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Deere Investing $90M in Iowa

Deere & Company, maker of products and services for agriculture and forestry, will expand its Waterloo, Iowa, manufacturing facility for large, high-horsepower tractors. The $90 million investment will not expand floor space at the current plant but will cover additional machine tooling, new manufacturing technology, improved work processes, and replacement of the current paint system. The company plans to increase its capacity for producing the tractors by about 25 percent. "John 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 biofuels," says David Everitt, president of the company's North American agricultural division.

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