Deere & Co. warns of delays due to Japan disaster

AP News
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Posted: Mar 18, 2011 6:41 PM

Deere & Co., the world's largest maker of agricultural equipment, says it expects delivery delays for excavators as a result of last week's earthquake and tsunami on Japan's northeast coast.

The Moline, Ill.-based company said Friday it expects delays on delivery of some excavators sold under both the Deere and Hitachi brand names, as well as Hitachi-branded mining equipment.

Deere says it is also assessing the impact from the March 11 disaster on its Japanese supply base. Some suppliers are recovering, but conditions remain too uncertain in Japan to estimate the full effects on the movement of supplies, Deere said.

The company also says it's too early to estimate the impact on its overall business.

Shares of Deere rose 72 cents to close at $90.10.