Cat to break ground on Winston-Salem plant in November
Powertrain facility continues investment in North American manufacturing
The Winston-Sale Journal reported this week that Caterpillar Inc. wll break ground Nov. 12 for its $426 million plant in Winston-Salem.
It’s the second major construction project announced by Caterpillar in the last month. Cat also announced plans for a 600,000 square foot plant in Texas.
The Journal repored tat local economic and elected officials were told about the ceremony by Mike Murphy, the general manager of the company's Lower Powertrain Systems business unit.
The company chose Winston-Salem for the manufacturing plant on July 30. The plant, when fully operational, will have 392 Caterpillar and 118 contract employees.
Caterpillar said it will take a year to build its 850,000-square-foot plant. It expects to begin production in the first quarter of 2012.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey