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Deere Plans $90 Million Upgrade in Waterloo

By Becky Ogann

Story Created: Feb 28, 2008 at 9:52 AM CST

Story Updated: Feb 28, 2008 at 9:52 AM CST

WATERLOO (AP) - Deere & Co. will invest $90 million in its Waterloo plant to expand manufacturing capacity for large, high-horsepowered tractors.

The company, based in Moline, Ill., announced the plans on Thursday, saying the investment will help it meet continued worldwide market demand for equipment.

Tractors built in Waterloo are exported to more than 130 counties.

Officials say while the project won't add floor space, it will increase the capacity of the Waterloo plant to build big tractors by 25 percent.

The project is slated to be completed in 2010. It follows a multiyear investment of more than $140 million to improve the company's manufacturing facilities in Waterloo, which includes Deere's largest tractor factory in the world.

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