Deere halts production in Brazil on coronavirus

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Deere (NYSE:DE) says it will to stop production at its six plants in Brazil in an attempt to contain the spread of the coronavirus.

Two facilities will be suspended tomorrow for an undetermined period and four other units will stop next Monday, while Deere’s distribution center for Latin America will continue to provide support to farmers during the soybean harvest.

In Brazil, a key market for global machinery makers, the coronavirus is leading to suspensions of agricultural fairs, worsening the outlook for sales.

Source: dailystockbuzz

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