Caterpillar to Build Axle Assembly Plant in North Carolina

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Researched by Industrial Info Resources (Sugar Land, Texas)--Caterpillar Incorporated (NYSE:CAT) (Peoria, Illinois) plans to build a $426 million grassroot plant that will manufacture and test axle assemblies for large mining machines in Winston-Salem, North Carolina.

Construction is scheduled to begin in November, when workers will begin manufacturing, assembling, testing and painting the assemblies. Production is expected to begin in the first quarter of 2012. The 850,000-square-foot plant is expected to employ about 390 full-time workers in five years, at an average wage of $40,482 a year, plus benefits. Caterpillar also expects to need another 120 contract workers at the plant. Caterpillar has about 1,000 full-time employees in North Carolina.

Caterpillar designs, manufactures, markets and sells machinery and engines, and sells financial products and insurance to customers via a worldwide dealer network. Caterpillar has locations throughout the North Carolina in Cary, Charlotte, Clayton, Franklin, Goldsboro, Morganton, New Bern, Sanford and Smithfield. The Winston-Salem facility will be the 10th location for the company in the state. Caterpillar says the plant will provide increased capacity for the company's expanding global mining operations.

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