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Wisconsin Ag News Headlines |
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Minnesota Company Looking to Buy Prentice Caterpillar Plant
Wisconsin Ag Connection - 02/08/2016
There may be some hope after all for the 220 Caterpillar workers in Prentice who were told recently they may lose their jobs later this year. The Minnesota-based RITALKA, which has equipment assembly plants in the Midwest, has expressed interest in
purchasing the facility and retaining its workforce after Caterpillar announced in January that they will close down the plant this fall.
RITALKA CEO Kevin Wald said his goal is to have financing in place to make an official offer before the end of March. His company has purchased other Caterpillar plants before and is hopeful to keep the Prentice operation going.
Caterpillar said last month that it will close 20 plants worldwide as part of a restructuring effort.
The seven-decade-old Prentice operation makes forestry equipment.
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