Deere invests $70M in plant

Upgrade to help keep up with demand for tractors

Published:

MOLINE, Ill. (AP) -- Deere & Co. will boost capacity by 10 percent at an Iowa operation that produces large farm tractors.

The Moline, Ill., company said Thursday that it plans to spend $70 million on the project.

Demand for large tractors is on the rise, and Deere says the upgrade at its Waterloo plant should be complete by mid-2013.

In addition to the large tractors, which are shipped to more than 130 countries, the Waterloo operations also make parts that are used in Deere machines built at other facilities.

Deere says the Waterloo operations employ about 6,000 people, but the investment isn't expected to add manufacturing jobs.

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