Wednesday, October 24, 2012

Caterpillar Expands in Three RTW States - Renovates in Peoria

Cat continues to construct a new plant near Athens, Ga. while ramping up a new plant in Victoria, TX. and at another plant near Winston-Salem, N.C while renovating a 1929 building in E. Peoria. Cat  stock has lost $33 a share this year and predicts $3 billion less revenue for 2012 and predicts flat demand for 2013.

Some layoffs are scheduled for November-December in E. Peoria and other locations not made public in any of the news I read or hear.

On Oct. 14, the JS stated that general admission to their new $37 million (original commitment was for $51 million) Caterpillar Visitors Center wing of the boondoggley Peoria Riverfront Mausoleum (er, Museum) would be $7 for adults with a limit of four children under the age of 12, free.Seniors, 55 or older and active and inactive military veterans, $6. Free admission for Cat individual employees, retirees, dealers and customers.

1 comment:

David Jordan said...

Merle,

I doubt Illinois had a chance for the North Little Rock (motor graders), Victoria, Texas (excavators), Winston-Salem,NC (truck axles) or Athens, Georgia (small tractors and mini-exacavators) regardless of its finances and tax policies.

At least Caterpillar has or will invest nearly $2 billion in our state since 2008 - $340 million to modernize Building SS, which opened in 1977. The "1929 building" is the former forged links plant (and pre-Mapleton foundry) and $200 million is being used to modernize its heat-treating equipment. Another $300 million is going to expand truck production at Decatur. In 2008, $1 billion was allocated to modernize of several Illinois plants.