Created: 11/08/2012 11:47 AM KSTP.com By: Leslie Dyste
Caterpillar Inc. announced it's closing its plant in Owatonna, and consolidating operations within its forestry business.
According to the company this decision will impact 100 employees.
“We value our employees’ contributions, and these actions are not a reflection of them, but rather the result of a need to make our business more efficient and competitive,” said John Carpenter, president of Caterpillar’s Forest Products Division.
“We understand these decisions will be difficult for the lives of many of our workers and their families, and we genuinely regret that. In addition to working with local agencies on outplacement services, we’re also partnering with potential area employers, including other nearby Caterpillar plants, to host job fairs for impacted workers."
Affected employees will be offered a severance package, and will be able to work with agencies on outplacement services.
Production will transition out of the Owatonna facility by March 1.