Rental Industry News Today

According to a company press release issued August 23rd, 2012, Caterpillar, Inc. has officially opened its new hydraulic excavator manufacturing facility in Victoria, Texas. The new factory is the most recent expansion for Caterpillar in the United States and is expected to employ about 800 people when it is fully operational.

The new, state-of-the-art operation represents a $200 million investment by Caterpillar to increase excavator capacity and production in the United States.  The company has hired about 225 new employees to staff the new plant, and plans to continue hiring based on demand for heavy construction equipment made in Victoria.

“This new facility in Victoria will help us better serve our customers in North America, and I am thrilled to have the opportunity to meet some of our newest employees and to see first hand a factory that I am sure will be among the very best we have anywhere in the world,” said Caterpillar Chairman and CEO Doug Oberhelman.

Texas Governor Rick Perry Participates in Ceremony

Prior to taking part in the grand opening ceremony, Oberhelman toured the new facility with leaders from Caterpillar’s Excavation Division and with Texas Governor Rick Perry.

“Caterpillar’s ongoing investment in the Lone Star State is proof positive that the low taxes, reasonable regulations, fair courts and skilled workforce we’ve worked hard to foster continue to attract world-class employers to create jobs and opportunity here in Texas,” Gov. Perry said. “We’re proud to welcome this new facility and the hundreds of jobs it supports to Victoria, and wish Caterpillar continued success.”

When operating at full capacity, the new Victoria excavator plant will more than triple the current capacity of hydraulic excavators produced by the company in the United States. Expanding capacity in the United States at the new Texas location will position Caterpillar to better serve North American construction equipment customers with a single, dedicated hydraulic excavator manufacturing facility.

For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2011 sales and revenues of $60.138 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at: http://www.caterpillar.com.