Caterpillar Extending Plant Closures With Virus Sapping Demand
- Company temporarily shut down more than 10 factories in May
- Closures totaling two weeks or longer, document shows
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Caterpillar Inc. is keeping some of its plants shut for longer than expected with demand languishing, in a sign that the economic recovery is progressing slowly.
Among Caterpillar’s operations across the Americas, its Curitiba Brazil and Campo Largo BCP Brazil plants are idled until the middle of June, while parts of its Piracicaba Brazil facilities aren’t slated to reopen until June 30, according to a document seen by Bloomberg. Additionally, the company had more than 10 facilities shuttered at some point during May, the document shows.