Caterpillar Inc. (CAT) said it will to close its Kilgore,
Texas, assembly plant in response to falling demand for mining machinery and
relocate Kilgore's production work to plants in Kansas and Wisconsin.
About 100 workers are expected to lose their jobs in the
shutdown, which is scheduled for completion by year-end. The Kilgore plant
makes dippers and ballast boxes used in giant electric-powered mining shovels.
Ballast-boxes production will shift to Caterpillar's plant in South Milwaukee,
Wis., while dippers will be moved to a plant in Wamego, Kan.
"We recognize this will impact our work force and their
families, but after considering a number of options and alternatives, we have
concluded we need to take this step to achieve a more sustainable, long-term
cost structure," a Caterpillar spokeswoman said in a written statement
Tuesday. Read more.
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