US firm announces Brazilian investment
US firm Deere & Company has announced that it will be investing $80 million (£43.7 million) into its Brazilian operations.
It will spend the money on upgrading its facilities for the manufacture of agricultural machinery and on a new distribution centre in Campinas.
Plants at Horizontina and Montenegro will increase their production of tractors and combine harvesters by 35 per cent.
Mark von Pentz, the president of the company's agricultural division, stated that the South American country is an important market for the firm, particularly due to its large coffee and sugar industries.
He commented: "These investments will assist Deere as we continue to enhance our market position in this important region."
In related news, Brazil and China are developing strong links with each other, with trade between the emerging economies totalling $31.9 billion in the last 12 months according to government figures reported by Macauhub.
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