May 04, 2013
By Bob Komsic
Saying it’s no longer a ”strategic growth opportunity”, American heavy equipment maker Caterpillar says it’s closing its tunnel-boring machine plant near Pearson airport.
The facility will shut down next year.
The 330 workers are being offerred a severance package and help finding new jobs.
This will not impact existing contracts with parts and service support to continue through 2016.
The Toronto closure follows Caterpillar’s decision last year to shut down a locomotive plant in London after a contract dispute with workers.
About 500 people lost their jobs there.