Caterpillar To Invest Around $1 Bln In North Carolina

(RTTNews) - Caterpillar Inc. (CAT), a construction, mining, and other engineering equipment maker, said on Wednesday that it plans to invest around $1 billion in North Carolina to expand production capacity for products that support its growing Cat CompactSM business. The investment includes plans for a new modern manufacturing facility in Sanford, North Carolina, to raise production of compact track loaders and telehandlers. Rod Shurman, President of Caterpillar Construction Industries Group, said: "As demand for compact equipment continues to increase, we're investing to better serve this growing segment of customers.