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)
