Caterpillar Closing South Carolina Plant

A South Carolina newspaper says Caterpillar is closing its Summerville plant next year, throwing 280 people out of work. The company said it's closing the remanufacturing facility after conducting an extensive strategic review of the business. The factory tears down, recycles and rebuilds heavy duty transmissions and related components for original equipment makers, which then resell the parts to aftermarket buyers. Caterpillar, in a statement, said the decision was not easy, recognizing the impact on employees and their families. Caterpillar says the decision doesn't reflect on the tremendous efforts by the hard working employees. Full time workers will receive severance packages.

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