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January 23rd, 2008
John Deere Forestry and Investlesprom Sign $100 Million Agreement

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PR – John Deere Forestry and Investlesprom have signed a significant framework agreement concerning the delivery of forest machines to Arkangel, Segezha and Vologda in Russia. The new agreement was published at a forest machine fair in Vologda. “Thanks to the latest order, the combined value of the orders that John Deere Forestry has received from Russia during the fall has exceeded 100 million dollars”, says Dr. Arne Bergmann, Director of Sales & Marketing Europe & Russia and Chairman of the Board for John Deere Forestry Oy.

The latest framework agreement between John Deere Forestry and Investlesprom is a follow-up to Investlesprom’s earlier order for 29 forest machines in November. John Deere acts as Investlesprom’s strategic partner. In connection with signing the latest agreement, Investlesprom also revised its harvesting targets for 2012 – from just over two million cubic meters to more than six million cubic meters.

This fall has been the most successful that John Deere Forestry has ever had in Russia. “This most recent deal with Investlesprom is one of John Deere Forestry’s all-time largest orders from Russia. In addition to this agreement, we also have other important orders in the pipeline, such as the forest machine deliveries to Ruukki Group and Mondi Group,” says Timo Kyttälä, Managing Director, John Deere Forestry Oy.

A forest commission is to be set up in Russia next year to supervise harvesting and the use of forested areas as well as to coordinate and support the development of the forestry sector by building access roads for forestry operators, for example.

Investlesprom is one of the largest forestry companies in Western Russia as well as Russia’s largest forest lender. The company owns around 11 million acres of forest in four different locations around Russia.

Deere & Company (NYSE: DE) is the world’s leading manufacturer of agricultural and forestry equipment, a major manufacturer of construction equipment, and a leading supplier of equipment used in lawn, grounds and turf care. John Deere also manufactures and markets engines used in heavy equipment and provides landscape and worldwide financial services. Since it was founded in 1837, the company has extended its heritage of integrity, quality, commitment and innovation around the globe. John Deere Construction & Forestry produces more than 120 machine models and distributes its construction, forestry and worksite products.

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