KILGORE, Texas (AP) - Caterpillar Inc. has announced that it will close an East Texas plant and move the work elsewhere, putting about 100 employees out of work.
The announcement to close the dippers plant in Kilgore comes a week after the Peoria, Ill.-based heavy equipment maker revealed third-quarter earnings fell 44 percent. In a statement issued Tuesday, the company says the shutdown results from "an extensive strategic review" of its Kilgore operations.
Dippers production will be moved to Wamego, Kan., while ballast box production will shift to South Milwaukee, Wis. Workers idled will be offered a severance package and transitional support.
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