Caterpillar to halt output at factory in France

|About: Caterpillar Inc. (CAT)|By:, SA News Editor

Caterpillar (CAT) intends to end production at its factory in Rantigny in northern France and sell the plant, which employs 244 people and makes equipment for road paving.

Caterpillar is shutting the facility as part of a global cost-cutting drive amid a deep slump in bookings for mining equipment. Over the past year, the company has said it is closing a number of other factories.