Caterpillar announces 100 new jobs, investment for Victoria plant
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An additional 100 jobs are on their way to the Crossroads, as Caterpillar expands its Victoria hydraulic excavator site, the company announced Friday.
The Peoria, Ill.-based Caterpillar will add another 200,000-square-foot building - a $70 million investment - to its Victoria plant.
Caterpillar in August announced plans to construct an 850,000-square-foot hydraulic excavator plant in Victoria. The investment at the time was about $130 million.
Based on analysis of future customer demand for hydraulic excavators, it made sense to increase capacity to better serve customers, said Gary Stampanato, Caterpillar's vice president with responsibility for hydraulic excavators.
"In addition, we have also determined Victoria is the right location to produce selected fabrications for the excavators that will be assembled in this new facility," he said.
Excavator production in Victoria is slated to begin in mid-2012. Once fully operational, the Victoria plant will produce seven excavator models and will employ about 600 people.
The new facility will more than triple Caterpillar's capacity of hydraulic excavators produced in the United States and would more than double the number of Caterpillar employees nationwide making excavators.
"We continue to aggressively increase our excavator manufacturing footprint with investments like this as part of Caterpillar's long-term strategic initiative to remain the global leader in this industry," said Rich Lavin, Caterpillar group president with responsibility for construction industries.
For a full story on the announcement, see Saturday's Advocate.