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Caterpillar Inc. (NYSE:CAT) announced it has selected land near Athens, Georgia, as the location for a new facility that will build small track-type tractors and mini hydraulic excavators. The ne-million-square-foot-facility is expected to directly employ 1,400 people once it is fully operational. The total investment for opening the new facility will be about $200M. Initial production at the facility is expected to begin in late 2013, ramping up to full production over a five-year period.
The shares closed at $113.95, down $0.01, or 0.01%, on the day. Its market capitalization is $73.68 billion.
Deere & Company (NYSE:DE): The Commodity Futures Trading Commission and Securities and Exchange Commission are getting ready to approve $2B as the maximum gross notional value of swaps a company may sell in a year before it is designated a dealer, which would be 20 times higher than the $100M threshold included when the rule was proposed, reported Financial Times, citing sources.
The shares closed at $83.87, up $0.76, or 0.91%, on the day. Its market capitalization is $33.83 billion.
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