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Caterpillar Unit Opens New Parts Plant

The logistics subsidiary of Caterpillar Inc., the world's largest maker of construction and mining equipment, said Friday it opened a parts distribution center in San Luis Potosi, Mexico.

PEORIA, Ill. (AP) — The logistics subsidiary of Caterpillar Inc., the world's largest maker of construction and mining equipment, said Friday it opened a parts distribution center in San Luis Potosi, Mexico.

The 500,000-square-foot facility will employ up to 150 people and is expected to start operating in the middle of next year. The city has access to major airports and a rail hub, and is at the crossroads of major highways.

Caterpillar said the opening is the first of many investments planned to enhance its parts distribution operations in Central and South America.

The facility in Mexico will be the sixth new parts distribution center. In addition to the new facilities, there are also capacity expansion projects underway at existing Caterpillar Logistics facilities in Atlanta, Belgium, Australia and China.

Caterpillar shares rose 51 cents to $106.53 in midday trading Friday. Its shares hit a 52-week high of $116.95 in late February. Its shares are up from a low for the year of $67.54 in early October.