Caterpillar Will Close Five More Plants, Cut 820 Jobs Based on Low Demand

Plant closures will take place over the next 18 months, with work shifted to other facilities and outside suppliers

The Washington Times

Caterpillar Inc. says it will close five factories as the Peoria, Illinois-based heavy equipment maker reacts to slowing demand for construction and mining equipment worldwide by cutting capacity.

New Caterpillar Plans Target $1.5-Billion Cut in Annual Costs

Over the next 18 months Caterpillar will close:

  • a 240-employee stamping metal hose coupling plant in Oxford, MS, shifting some production to a plant in Menominee, MI, and some work to outside suppliers
  • a 325-employee electric generator packaging facility in Newberry, SC, and a 75-employee generator assembly panel plant in Ridgeway, SC, shifting work to company plants in Seguin, TX; Lafayette, IN; and Griffin, GA
  • a 70-worker bucket and work tool plant in Jacksonville, FL, shifting work to outside suppliers
  • a 110-worker engine and undercarriage component plant in Morganton, NC, shifting work to other company plants and suppliers

The company will also demolish a mostly vacant engine manufacturing building in Mossville, IL, to save money.

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