Illinois-based Caterpillar Inc. (NYSE: CAT) says it is reducing production as a result of the COVID-19 pandemic. The manufacturer says while its operations have been classified as essential, the impact on global economic conditions has led to a temporary shutdown of its large engines manufacturing facility in Lafayette.
In an email to Inside INdiana Business, Caterpillar said the shutdown is currently expected to last until April 6. The company did not specify how many Hoosier employees will be affected by the move.
You can read the full statement from Caterpillar below:
“A number of governments continue to classify operations such as Caterpillar’s as essential activity for critical infrastructure. Customers use our machines, engines, generator sets and parts to provide electric and stand-by power for hospitals, grocery stores and data centers; they transport food and critical supplies on the roads and rails; they mine essential commodities and extract the fuels to enable stable electricity; and much more.
While our operations have been classified as essential activity, the COVID-19 pandemic is having an impact on global economic conditions. We are taking a variety of actions at our global facilities to reduce production due to weaker customer demand, potential supply constraints and the spread of the COVID-19 pandemic and related government actions. These actions include a temporary facility shutdown at the large engines manufacturing facility in Lafayette, IN.”