Caterpillar Inc. will close its assembly plant in Kilgore,
Texas, in response to a slowdown in demand from the mining
sector, the company said Oct. 30.
"The company has taken
many actions to align our costs with the environment were
in currently ... were not finished and expect to take
deeper action to improve our cost structure and balance sheet,"
a Caterpillar spokeswoman said.
The closure will
eliminate 100 jobs. Peoria, Ill.-based Caterpillar will offer
eligible full-time employees a severance package and
Caterpillar will shift Kilgores dipper production to
its plant in Wamego, Kan., and move ballast box production to
its South Milwaukee, Wis., facility by year-end, the
spokeswoman said. The company cut 115 jobs at South Milwaukee
in early October as part of its cost-cutting strategy (
amm.com, Oct. 3).