Caterpillar (NYSE:CAT) has inked a deal with CAW in Canada.

Caterpillar Signs CAW Agreement

Reports say that Caterpillar (NYSE:CAT)’s subsidiary company, Electro-Motive Canada, has signed a tentative deal with Canadian Auto Workers for an orderly closure of a manufacturing plant in London, Ontario.

The closure agreement is scheduled to be reviewed by the union and its 465 affected workers with a ratification vote to follow.

Electro-Motive Canada said in an official statement that, “Electro-Motive Canada has reached a tentative agreement for the safe and orderly closure of its London production operations. Details of the agreement will not be released until after the deal is ratified”.

Progress Rail Services, a subsidiary of Caterpillar (NYSE:CAT) owns Electro-Motive.

Caterpillar Inc. (NYSE:CAT) shares were at 115.00 at the end of the last day’s trading. There’s been a 21.3% movement in the stock price over the past 3 months.

Caterpillar Inc. (NYSE:CAT) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.66
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.66
Zack’s Rank: 1 out of 8 in the industry