Caterpillar to withdraw from vocational truck market
Caterpillar will discontinue production of its on-highway vocational trucks. Cat chose to discontinue production because of the current business climate in that market, the company reports.
Cat launched its first vocational truck in the North American market in 2011, and last year, the company announced its intention to begin independently designing and manufacturing its vocational truck products at the Caterpillar facility in Victoria, Texas.
“Remaining a viable competitor in this market would require significant additional investment to develop and launch a complete portfolio of trucks, and upon an updated review, we determined there was not a sufficient market opportunity to justify the investment,” says Ramin Younessi, vice president with responsibility for Caterpillar’s Industrial Power Systems Division. “We have not yet started truck production in Victoria, and this decision allows us to exit this business before the transition occurs.”
The discontinued production of on-highway vocational trucks will affect about 70 employees, the company reports. The reductions will begin in March.
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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