Caterpillar to Close Danville, KY, Track-Parts Plant
* : * : admin * : 2015-11-25 * : 210
Caterpillar Inc. will close its undercarriage components facility in Danville, KY, as part of global restructuring efforts first announced in September.
Components made in Danville go to bulldozers used in construction and mining.
Caterpillar said it would shift production to other locations and strategic suppliers.
The transition, expected to be complete in 2017, will impact approximately 75 jobs, 25 of which will be moved to East Peoria, IL.
It’s the most-recent action by the world’s largest construction equipment maker aimed at slashing annual operating costs by $1.5 billion, a strategy revealed in September along with a billion-dollar reduction in its 2015 revenue outlook and forecast for a 5% revenue drop in 2016.