More belt tightening at Deere. (News Briefs).

Deere & Company announced plans to sell its Homelite consumer products business, which includes blowers, trimmers and chain saws marketed by Deere under the Homelite brand. The 1,200-employee operation in Chihuahua, Mexico, will be sold and all or some of the operations in Greer and Columbia,

Deere will also restructure its construction and forestry division in order to reduce annual operating costs by about $15 million. Employment levels will be reduced by about 300 positions as a forestry equipment factory in Bessemer, Ala., and an office in Atlanta, Ga., are closed, and a fabrication operation in Woodstock, Ontario, is closed or sold. Worldwide, Deere's construction and forestry marketing and manufacturing staffs will also be reduced.

Robert W. Lane, chairman and CEO, said these actions, done to improve financial and operating performance, will result in a pretax charge of up to $240 million, or $150 million after tax, primarily in the company's fiscal fourth quarter.