Caterpillar to invest $1 billion in North Carolina manufacturing capacity

Sept 30 — 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)

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