Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling Back
Deere & Company (also known as John Deere) is an American engineering company that manufactures agricultural, construction and forestry equipment.
Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling BackDeere sold its Russian leasing arm to the Moscow-based Insight Investment Group, but that didn’t entirely sever ties with the country. Deere did not initially close its Russian factory in Orenburg, which builds seeding and tillage equipment in the country’s south, or its parts depot and combine and tractor manufacturing facility in Domodedovo, outside Moscow. Both locations are still listed as a part of the company’s worldwide network.
Deere said it suspended shipments of machines to Russia two weeks ago as the nation invaded Ukraine, and subsequently halted deliveries to Belarus. Insight Investment Group confirmed the acquisition of John Deere Financial LLC, a subsidiary of the U.S. company, but declined to disclose the price. 11.2023: FLIT LLC becomes the new founder of the organization of the leasing company. Partial exit as key company still not sold.