Today, Deere & Company (NYSE:DE) announced that it would be closing its manufacturing facility in Welland, Ontario. In a way to improve its profitability, the company plans to move its production to its other facilities in Wisconsin and Mexico. The plant closure is expected to affect an estimated 800 employees and will occur at the end of 2009. As a result of shutting down the production plant Deere will see, after tax charges of an estimated $90 million, half of which will be reflected in the 4Q.

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