(CAT) Caterpillar Plant to Create 200 Jobs

Caterpillar Inc. (CAT) intends to develop a plant in Griffin, Georgia, that will create 200 jobs. The company is investing $120 million to upgrade machinery and equipment in the existing facility.

Caterpillar Griffin facility assembles engines and generator sets for more than six different engine models. The company has a strong age-old bond with Spalding County, resulting in the company’s existing position in the county including Perkins Engine facility, along with several other facilities around Georgia.

Further investment in the facility will improve its process capability; flexibility and optimize efficiency by maintaining the flow of operations. The location also favors the company as it is located in close proximity to customers and supply base.

Besides, the locality has plenty of skilled labor experienced in manufacturing units similar to the products Caterpillar intends to manufacture in the new facility. Georgia is a home for many industries. The presence of Caterpillar will not only create jobs for the locals but also benefit existing industries.

Besides Griffin, Caterpillar also intends to open a new parts distribution center in Spokane, Washington. The new facility in Spokane, which forms a part of the company’s North American multi-year expansion and enhancement program, will extend to more than half a million square feet, replacing the existing 125,000 square -foot facility.

The new facility adds greatly to the company’s position in the industry by enhancing its capacity for growth and demand along with further optimizing the supply chain. We currently have a Zacks #1 Rank (short-term Strong Buy recommendation) on the stock.

Peoria, Illinois-based Caterpillar Inc., is the manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. It is one of the few leading U.S. companies in an industry that competes globally from a principally domestic manufacturing base.

Caterpillar operates three divisions – Machines, Engines and Financial Products. The company competes with the likes of CNH Global NV (CNH), Komatsu Ltd. (KMTUY) and Volvo AB (VOLVY).

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