Tractor Manufacturer Deere Expanding Iowa Plant 28/02/2008
John Deere & Company will be investing a whopping $90 million in to its Waterloo facility in Iowa, expanding the plants manufacturing capabilities. The company said they plan to produce larger, high powered horsepower tractors to keep up with the current global demand for equipment. Tractors built in the Waterloo plant are exported to over 130 countries and enjoy the most popularity in the US amongst the most productive producers. David Everitt, President of the Agricultural Division says that high demand for tractor equipment is world wide, “Deere customers around the world are reinvesting in farm machinery as they sell commodities at higher prices due to increasing demands for food, especially meat, and increasing global use of bio-fuels.”
The Waterloo plant which is Deere’s largest tractor factory in the world will be seeing the $90 million investment in the form of additional machine tooling, new manufacturing technology and improved work processes as well as a good old fashioned paint job. The improvements plan to be finished by 2010. John Deere has been providing leading agricultural equipment and tractor financing since 1837.