Caterpillar Drops $1B on NC Expansion, Buys Fabick Dealer
Caterpillar has announced plans to invest approximately $1 billion in North Carolina as part of its expansion strategy. The investment will include a new manufacturing facility in Sanford that will increase the company's capacity to produce compact track loaders and telehandlers.
The demand for these machines is growing, used in construction, landscaping, agriculture, and material handling. Caterpillar aims to capture growth at both ends of its business with this expansion, adding manufacturing capacity for a growing equipment category while also gaining direct exposure to equipment sales, parts, and services through the acquisition of John Fabick Tractor Co.
The new Sanford plant will utilize automation, digital production systems, advanced manufacturing technology, and integrated logistics. The project is expected to create advanced manufacturing jobs, although Caterpillar has not specified how many positions it expects to add or provided a timetable for completing the facility.