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Deere & Company recently announced that it will invest $70 million to expand the manufacturing capacity at its Waterloo, Iowa, operations, where the company builds large farm tractors. The investment will increase the number of tractors Deere can build in Waterloo by the middle of 2013 but is not expected to add manufacturing jobs.
"Through this initiative, we will increase our manufacturing flexibility and speed," said David Everitt, president of the Worldwide Agricultural and Turf Equipment division. "The market demand John Deere has experienced for large agricultural equipment has remained strong for several years. We believe the time is right to invest in our facilities to meet future demand for the large John Deere tractors that help our customers meet the world's growing demand for food."
The $70-million investment will increase capacity by more than 10 percent. Once the improvements are completed, enhancements to John Deere facilities in Waterloo since 2002 will have increased manufacturing capacity for large tractors by more than 50 percent.
"The John Deere Waterloo Works are an important part of the company's global manufacturing strategy," Everitt said. "Not only does Waterloo produce whole goods in the form of the large tractors, but the operations also manufacture components that are used in John Deere machines built at other facilities."
Approximately 6,000 individuals are employed in John Deere's various Waterloo operations, which build tractors that are shipped to more than 130 countries each year and are used by the most productive agricultural producers in North America and around the world.
For more information, visit www.JohnDeere.com.