Jun 16, 2011
Caterpillar (NYSE:CAT) announced that it plans to open a new manufacturing facility in Thailand, with construction expected to begin in 2011, and production expected to begin in late-2013.
Tom Bluth, Caterpillar vice president with responsibility for the company's Earthmoving Division said, "We continue to make strategic investments in our construction business to support our customers. We are pleased to announce the expansion of Caterpillar's manufacturing operations in Thailand, which will increase our capacity for our existing range of medium track-type tractors, particularly as we sharpen our focus on meeting long-term customer demand in growth markets."
Caterpillar has a potential upside of 41.7% based on a current price of $94.92 and an average consensus analyst price target of $134.53.
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