U.S. economy fails to meet expectations, Deere CEO says

06/14/2011 | Chicago Tribune (tiered subscription model)

The improved U.S. economy has not reached the potential hoped for by Deere & Co., said CEO Samuel Allen. However, the company will stick to its yearly profit outlook, predicting that a need for agricultural machinery in Brazil and in the U.S. will compensate for sluggish sales of construction and lawn-care products. "The turf business, the construction side, they are still well below what we would call a midcycle or normal year," Allen said.

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