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Amid a continuing corporate restructuring, Caterpillar announced today that it will cease production of its on-highway vocational CT truck line. Cat said about 70 jobs would be affected by the decision.
"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," said 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 company's vocational truck line includes the CT681, CT660 and CT680. Launched in 2011, the line was initially built by Navistar. Last year, Cat announced it would begin production of...