Caterpillar to invest $1 billion in North Carolina manufacturing capacity
Caterpillar to invest $1 billion in North Carolina manufacturing capacity Sept 30 (Reuters) - Caterpillar said on Wednesday it plans to invest about $1 billion in North Carolina to expand manufacturing capacity for its compact equipment business amid rising customer demand.
The investment includes plans for a new manufacturing facility in Sanford, North Carolina, to increase production of compact track loaders and telehandlers.
"With demand for compact equipment on the rise, we are increasing our investment to better support this expanding customer segment," said Caterpillar Construction Industries Group President Rod Shurman.
Compact track loaders and telehandlers are used across industries including construction, landscaping, agriculture and material handling, and the expansion is intended to help meet demand in those sectors.
The facility is expected to support Caterpillar's US manufacturing operations and create positions related to automation, robotics, digital manufacturing and production systems.
Over the last few quarters, the equipment giant has seen a surge in orders for construction equipment amid a nationwide buildout of data centers as well as the backup power equipment needed for such buildings.
(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Shinjini Ganguli)
((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com;))