MOLINE, Ill. (AP) -- Deere & Co. will boost capacity by 10 percent at an Iowa operation that produces large farm tractors, the company said Thursday.
The price tag to do so is $70 million.
Demand for large tractors is on the rise and Deere said the upgrade will allow it to meet the market's needs at its Waterloo plant 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, the company said.
The Waterloo operations employ about 6,000 people, but the investment isn't expected to add manufacturing jobs, Deere said.