The Fargo plant of Case-New Holland produces four-wheel drive and high-power tractors. According to previous reports from 2013, about 40 percent of tractors and wheel loaders made by Case-New Holland in Fargo were exported.
Ag equipment manufacturers have not only experienced domestic market downturns in the domestic agricultural industry, but also the downturn in overseas markets like China, which previously imported high-power tractors but have decreased orders for the past 15 months.
Crain’s Chicago Business journal reported Deere & Co. CEO Samuel Allen asked for a pay cut, although he’ll still earn $18.7 million. Slowing economies in China and Brazil were again noted as causation, along with depressed domestic agricultural markets. The report noted that Deere expects sales to fall 7 percent in the new fiscal year, off 28 percent from 2015.
Yet, interest in farm equipment is not dead; it seems to be developing on other fronts. Panasonic is looking at agriculture as an opportunity to develop more robotic equipment. According to ZDNet, Panasonic is working on a tomato-picking robot. Other companies, like Toshiba and Sharp, are reportedly in the race for agricultural equipment robotic development. FG
