Manufacturer News

Deere to Lay Off 600 Employees at Four Factories

Deere & Co, the world's largest maker of farm equipment, said it would indefinitely lay off more than 600 employees at plants in Illinois, Iowa and Kansas as falling grain prices hurt demand for tractors, harvesters and other agricultural machinery.
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Deere's 3Q Net Sales & Revenues Decline 5%; Ag Sales Fall 11%

Net income attributable to Deere & Company was $850.7 million, or $2.33 per share, for the third quarter ended July 31, compared with $996.5 million, or $2.56 per share, for the same period of 2013. For the first nine months of the year, net income attributable to Deere & Company was $2.513 billion, or $6.79 per share, compared with $2.730 billion, or $6.97 per share, last year.
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AGCO's 2Q Net Sales Decline 9.8%

AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, reported net sales of approximately $2.8 billion for the second quarter of 2014, a decrease of approximately 9.8% compared to net sales of approximately $3.0 billion for the second quarter of 2013. Net income for the second quarter of 2014 was $1.77 per share.
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