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Caterpillar stock in red: Caterpillar plans to stop selling some engines |  07/08/21

Caterpillar stock in red: Caterpillar plans to stop selling some engines | 07/08/21

The US company Caterpillar wants to stop selling medium-speed engines and focus on servicing these units.

The company said upon request that locations in Germany and China would be affected. Several media reported about it. Caterpillar announced in writing that it intends to physically implement the plans by the end of 2022. The company did not provide any further details.

IG Metall Kiel-Neumünster fears MAK in Kiel and Rostock could lose staff, First Representative Stephanie Schmolener announced Thursday. According to the union, the company announced its decision in a short video conference Wednesday.

According to IG Metall, about 800 people work at MAK in Kiel and Rostock. At MAK, the engines are designed for cruise ships, for example. Schmolener criticized “statutory regulations for reporting to job boards were not adhered to, and no questioning of the company’s management decision was allowed.” “We demand a workforce perspective.” The union and labor council should already take action on Friday.

Keele Mayor Lord Ulf Camper (SPD) described the news as a bitter blow. The ending was no surprise to Cale. The assembly of the largest marine diesel engine was transferred to Rostock in 2000. In 2014, the assembly of medium and small units went to the sister site and to Asia.

In New York, Caterpillar shares temporarily fell 1.37 percent to $211.64.

/ moe / DP / stw

KIEL (dpa-AFX)

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