AusBN – Caterpillar (NYSE: CAT) has announced plans to move some of its production from its Burnie Factory in Tasmania to Thailand.
Around 280 jobs are expected to be lost in the move to the Thai port of Rayong.
Caterpillar spokesperson William Oei said the decision was influenced by the recent downturn in the mining industry.
Oei said: “As you know, mining industry it's still going through some challenges right now, so we need to look at the efficiencies of the manufacturing.
"After completing a strategic review of its underground manufacturing operations Caterpillar Inc informed employees today that it will transition its hard rock vehicle operations from Burnie, Australia to Rayong, Thailand."