$100 million investment made to modernize Iowa Foundry

Deere & Company will invest approximately $100 million to modernize the John Deere Foundry in Waterloo, Iowa, which continuing to focus on customer needs and improving business. The project will occur over the next four to five years and will assist the company with the ability to use more advanced casting designs and manufacturing technologies. The company is a leading provider of advanced products and services for the agriculture, forestry, construction, landscaping and irrigation industry.

The investment also follows a $125 million Waterloo Works redevelopment plan that Deere & Company announced in 2000 that streamlined its drive-train and tractor manufacturing operations. Back in 2008, Deere invested $187 million to increase the manufacturing capacity of the Waterloo Works.

According to the press release, "The enhancement of our foundry operations follows recent investments in the Waterloo Works to improve manufacturing capacity and flexibility. This integrated approach at John Deere in the design and manufacturing of large row crop and four-wheeled-drive tractors is a competitive advantage," said David C. Everitt, president, Worldwide Agriculture & Turf Division – North America, Asia, Australia, Sub-Saharan and South Africa, and Global Tractor and Turf Products.
The announcement was made with the Iowa Department of Economic Development, which also voted to provide tax incentives to Deere & Company to retain the Waterloo foundry jobs in Iowa.

Richard Czarnecki, global director, Large Tractor Product Line, said in the press release, "We evaluated several options for our foundry operations. This investment allows us to better serve our customers with high quality, innovative castings. The investment helps John Deere meet customer requirements for more sophisticated designs of large tractors and helps to ensure the company maintains manufacturing flexibility and responsiveness to market demands."