Increased Cat engine orders reduce number of layoffs
Dec 1, 2002 12:00 PM
Improved fourth-quarter 2002 demand for on-highway truck engines will reduce the number of temporary manufacturing shutdowns and employee layoffs at the company's engine and fuel systems facilities previously announced Oct 14, 2002. Facilities affected are in Mossville and Pontiac IL, and Jefferson and Thomasville GA. The revised schedules mean some employees will not face layoffs at all, while most will have shorter layoffs.
The truck engine market continues to be volatile after implementation of new emissions regulations Oct 1, 2002, by the Environmental Protection Agency. While some manufacturing shutdowns may occur in first-quarter 2003, it is too soon to speculate on the number or extent of those shutdowns. These revised schedules will not materially impact Caterpillar's 2002 financial results, according to the company.
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