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Farm machinery makers, Brazil banks working on private financing - Deere

Farm machinery makers, Brazil banks working on private financing - DeereAgricultural machine manufacturers are working with banks in Brazil to avoid a repeat of slumping sales when public financing is expected to run out next year, the head of the local unit of U.S. tractor maker Deere & Co told Reuters on Thursday. The Brazilian government's moves to reduce its role in the sector disrupted one of the world's largest markets for agriculture machinery earlier this year. "The money was over, and we stayed 90 to 120 days with very low activity (in sales)," said Paulo Herrmann, Brazil CEO for the maker of John Deere brand machines.




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