John Deere Expands Plans to Increase Production of Large Tractors

Deere said the new initiative will invest approximately $97 million in areas that are core to the business and offer a competitive advantage, such as theWaterloo foundry, engine, and drive train operations.

An addition of an estimated 103,000 square feet will be added to the drive train operation inWaterloo and part of the total investment will be spent on improvements at a John Deere plant inCoffeyville, Kansas, where Deere builds transmissions and other drive train components.

"John Deere customers around the world are investing in the improved productivity delivered by these technologically-advanced machines," said David Everitt, President, Agricultural Division -North America,Australia andAsia and Global Tractor Sourcing. "John Deere is investing to help ensure that we have the manufacturing capacity to meet this demand for John Deere products."

The project announced today is in addition to the investment of approximately $90 million that Deere had announced in February to increase manufacturing capacity at the Waterloo Operations. In combination, the projects will increase John Deere's manufacturing capacity to build high horsepower tractors inWaterloo by about 40 percent and increase capacity for other tractor components and service parts. The company said both projects are expected to be complete by early 2010.

Tractors built inWaterloo are exported to more than 130 countries and are highly popular with the most productive farmers and growers inNorth America.

John Deere (Deere & Company; NYSE: DE) is the world's leading provider of advanced products and services for agriculture and forestry and a major provider of advanced products and services for construction, lawn and turf care, landscaping and irrigation. John Deere also provides financial services worldwide and manufactures and markets engines used in heavy equipment. Since it was founded in 1837, the company has extended its heritage of integrity, quality, commitment and innovation around the globe.

SOURCE Deere & Company

Copyright © 2009, PRNewswire
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Copyright © 2009, NewsBlaze, Daily News

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