An increasing worldwide demand for large, horsepower tractors is good news for Deere and Company and for the city of Waterloo. John Deere plans to spend around 90-million dollars over the next two years to upgrade equipment and expand production at the company’s manufacturing facilities in Waterloo.
Company officials say the investment will allow tractor production to increase by 25-percent in Waterloo, with substantial facility upgrades expected to be complete by 2010. While the investment won’t add any new floor space, company officials say additional machine tooling and new manufacturing technology will be implemented in Waterloo and the current paint system will be replaced.
The project announced Thursday follows a multi-year investment by Deere of more than 140-million dollars to modernize and improve efficiencies at company facilities in Waterloo, which has the largest John Deere tractor factory in the world. According to John Deere, tractors built in Waterloo are exported to more than 130 countries.