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