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Caterpillar (CAT) Stock Up, Mulling Sale of Belgian Plant

NEW YORK (TheStreet) -- Shares of Caterpillar (CAT) were higher in early morning trade on Friday after the Peoria, IL-based equipment manufacturer said it was contemplating closing a production facility in Gosselies, Belgium.

Caterpillar has begun an information and consultation process which could result in the closing of the Belgian plant and the lay-off of roughly 2,000 employees, according to a company statement.

The Belgian site primarily produces construction equipment. Caterpillar said it was considering moving the volumes produced there to a...


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