Bridget Young, a Caterpillar spokeswoman, said Thursday the deal will “absolutely not” affect the Hoke Road facility, a $69 million distribution center expected to employ about 600 workers when fully operational. That facility stores and handles Caterpillar-branded parts, and is not part of this agreement, Young told the Dayton Daily News.
“The proposed sale does not impact Caterpillar manufacturing logistics and transportation operations and Cat brand parts distribution; they will continue as core businesses within Cat Logistics,” the company said in its statement Thursday. “In fact, Caterpillar previously announced plans for a multi-year expansion and enhancement of the Cat parts distribution network, which, to date, has added over 4 million square feet of capacity in new parts distribution centers in the United States, Mexico and the United Arab Emirates.”
Caterpillar put the value of the transaction at about $750 million. Under the agreement, Caterpillar would retain a 35 percent equity stake. Other terms were not disclosed.
Contact this reporter at (937) 225-2390 or tgnau@DaytonDailyNews.com.
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