Caterpillar (CAT) Will Cease on-Highway Vocational Trucks Production; Sees Job Cuts
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Caterpillar to End Production of On-Highway Vocational Trucks
February 26, 2016 9:30 AM ESTPEORIA, Ill., Feb. 26, 2016 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) today announced it will discontinue production of its on-highway vocational trucks. Based on the current business climate in the truck industry and a thorough evaluation of the business, the company decided it would withdraw from this market. This is also in line with the company's ongoing restructuring to align its businesses with existing conditions. As a result of this action, the company will cease taking new orders for vocational trucks, although Caterpillar remains committed to existing truck customers and will support the... More
