With manufacturing facilities in Russia, Deere may be impacted by sanctions
In 2010, Deere opened a manufacturing and parts distribution plant near Moscow, expanding the company’s international presence and establishing itself as a global leader in solutions for agriculture and construction. Recent developments following Russia’s invasion of Ukraine have resulted in sanctions placed on Russia by the United States and many other countries around the world. In a statement, Deere indicated it will fully abide by these sanctions. While the company did not specify how it would be impacted by the sanctions, it is expected the ongoing conflict will temper international operations, mitigating its global presence while relying more heavily on domestic operations to maintain overall performance.
Balance Sheet|Product Innovation|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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