Deere Expects Midwest Flooding To Have Minimal Impact On Projected Credit Operations' Net Income

Published on: 10:31AM Jun 20, 2008

MOLINE, Illinois (June 20, 2008)— Deere & Company said that, at this time, recent flooding in the central U.S. is expected to have only a minimal impact on the company's worldwide credit operations' projected net income. This statement is based on an initial assessment by outside consultants of Deere's crop insurance program and is a result of both the effective use of various risk mitigation strategies, including public and private reinsurance and geographic diversification, as well as farmers' ability to plant and replant.

Deere & Company (NYSE: DE) is the world's leading provider of advanced products and services for agriculture and forestry and a major provider of advanced products and services for construction, lawn and turf care, landscaping and irrigation. John Deere also provides financial services worldwide and manufactures and markets engines used in heavy equipment.