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Caterpillar to close Illinois plant, lay off 800 workers

http://finance.yahoo.com/m/4fbdd98b-d389-343a-9e43-81a41e2fd302/caterpillar-to-close-illinois.html

Associated Press Associated PressMarch 31, 2017
PEORIA, Ill. (AP) — Caterpillar Inc. has announced the closing of its facility near Aurora, Illinois, and the lay off 800 workers.

Earlier this year, the earth-moving equipment maker said it would lay off employees in 2017 because of an anticipated decline in demand for its products.

Caterpillar spokeswoman Lisa Miller said Friday the large wheel loaders and compactor production will be moved to the company's Decatur, Illinois, plant. Its medium wheel loader production line will be moved to the North Little Rock, Arkansas, plant.

Miller said moving production from Aurora will allow the company to take advantage of utilized production facilities while preserving capacity for an upturn in demand.

Miller says the company will maintain an Aurora office for engineers and product support employees.

Caterpillar in January reported a fourth-quarter loss of $1.17 billion on revenue of about $9.6 billion.