United Auto Workers Ratify Contract With Deere & Company

MOLINE, Ill., Oct. 6, 2003 -- A six-year contract was ratified over the weekend by United Auto Workers-represented employees at Deere & Company . Deere & Company made the announcement today following notification by the UAW leadership.

The new labor contract takes effect October 6, 2003, and extends to September 30, 2009. A tentative agreement between the two parties was reached on September 30, 2003.

In making the announcement, Chairman and Chief Executive Officer of Deere & Company, Robert W. Lane, said, "Our goal of building a business as great as our products is the focus for all employees, and our new agreement with the UAW will help Deere sustain our success in the global economy in which we have to compete."

The new UAW/Deere contract covers 7,000 employees and 17,000 retirees at John Deere Harvester Works, John Deere Seeding Group/Cylinder Division, John Deere Parts Distribution Center, John Deere Davenport Works, John Deere Des Moines Works, John Deere Dubuque Works, John Deere Ottumwa Works, John Deere Engine Works, John Deere Waterloo Works Donald Street Site, John Deere Waterloo Works Westfield Avenue Site, John Deere Product Engineering Center - Waterloo, and parts depots in Atlanta, Denver, and Minneapolis.