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Deere-Hitachi to Invest $97 Million to Expand Manufacturing Capacity in Kernersville, N.C.

   Deere-Hitachi to Invest $97 Million to Expand Manufacturing Capacity in
                              Kernersville, N.C.

PR Newswire

KERNERSVILLE, N.C., Oct. 5, 2012

KERNERSVILLE, N.C., Oct. 5, 2012 /PRNewswire/ --Deere-Hitachi Construction
Machinery Corporation announced today it will invest $97 million to expand
manufacturing capacity at its Kernersville, North Carolina operations.
Deere-Hitachi expects to hire an additional 340 full-time employees over the
next four years to support the expansion.

Deere-Hitachi currently employs over 700 full-time employees at its North
Carolina facility, building several models of mid-sized excavators sold
throughout North, Central and South America. This $97 million investment will
increase capacity on current machine models manufactured in Kernersville and
add production capability for additional mid-sized excavator models.

"Through this investment, we will increase our manufacturing capacity and
flexibility and better serve our customers with the products they want - when
they want them," said Al Seeba, President and CEO, Deere-Hitachi Construction
Machinery Corporation. "The overall market for excavators remains quite strong
and customer demand for the high-quality Deere and Hitachi-branded machines
manufactured by our employees in Kernersville continues to grow. We believe
the time is right to further invest in our North Carolina facility."

Deere-Hitachi will purchase approximately 60 acres of land adjacent to its
facility, purchase a warehouse that will be expanded for manufacturing and
warehouse space, and expand its existing factory with state of the art
technology. Once the improvements announced today are complete, Deere-Hitachi
will have increased manufacturing capacity for excavators by 60 percent.

The North Carolina Department of Commerce, Forsyth County, and City of
Kernersville have agreed to provide incentives to help advance this project
and the jobs it will create. In applying for consideration under state and
local programs, Deere-Hitachi committed to retain current jobs, create an
additional 340 full-time jobs, and invest $97 million in capital as outlined
above.

"This investment will have a significant positive impact on the State of North
Carolina, providing additional employment opportunities for Deere-Hitachi as
well as many of our North Carolina-based suppliers," Seeba noted.
"Deere-Hitachi has been manufacturing in the state since 1988 and we are
pleased to partner with state and local officials to help make our vision a
reality."

Deere-Hitachi Construction Machinery Corporation is a 50/50 joint venture
established in 1988 between Deere & Company (Moline, Illinois) and Hitachi
Construction Machinery Corporation (Tokyo, Japan) established for the purpose
of providing high quality hydraulic excavators in North, Central and South
America.

SOURCE Deere-Hitachi Construction Machinery Corporation

Contact: Bryan Swerbinsky or Leigh Cannon, +1-336-996-8100
 
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