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Green Fun Store News

John Deere creates leasing program for Russia

Posted by Green Fun Store on 3/11/2011 to Current News/Events of John Deere
John Deere has created an equipment leasing program for Russian customers as it continues its expansion into Moscow, reports the Wall Street Journal.

The program will be established through its John Deere Financial Services division and hopes to increase brand recognition and use throughout the country by giving farm owners the ability to rent their products as opposed to being forced to buy them.

"By establishing a leasing entity in Russia, John Deere will be able to provide retail financing solutions to our customers," James Israel, president of John Deere Financial, told the news source.

Deere and its key competitors all consider Russia to be key for market growth within the industry, with each building plants and merging with large Russian equipment companies to gear up for the expansion. Russian law requires all manufacturers creating equipment for sale within the country to make their products within its borders, the news source reports.

With expansion of Deere products set to take Russia by storm, don't be surprised if farm life in the country soon changes forever.