Back from Japan

Caterpillar said it was shifting production of small tractors and excavators from its Sagami, Japan plant to the United States. The world's leading construction equipment maker said it will build a new $200 million facility near Athens, Georgia, that will produce small track-type tractors and mini hydraulic excavators. The facility is expected to directly employ 1,400 people and generate another 2,800 jobs among suppliers and other supporting businesses. "The decision to shift production from Japan to the United States is driven by the proximity to a large base of customers in North America and Europe. Our objective is to better serve those customers from this new factory," said BCP Vice President Mary Bell. (...) The news came on the heels of announcements by Japanese automakers that they were expanding production in the US as a mega-strong yen makes Japan-made exports more expensive, squeezing profit margins.