Belgium: definitive closure of Caterpillar’s site

It was already in the pipeline in September 2016: Caterpillar was thinking of shutting its Belgian plant in Gosselies. This week, the giant took the final decision to go ahead.

Back in September, at the pre-announcement of a potential closure, some 60 workers had reacted fervently, blocking the site’s entrance with cranes, in protest. To no effect. 2,000 jobs will be cut due to the cessation of activities at Gosselies.

Stopover will be progressive until final shutdown in mid-2017. Sogepa, a regional investment company, will acquire the site for a symbolic euro on June, 30, 2018.

A situation which forecasts nothing good: if firmly established companies like Caterpillar start restructuring, then what about others? The giant closed its fourth quarter of 2016 with a $2 per share loss and registered a reduction of18% of its full year sales and revenues in 2016 compared to 2015.