(Peoria, IL) — Days after Caterpillar announced another round of domestic layoffs, the company is announcing plans to spend a billion dollars to develop business in Africa. CEO Doug Oberhelman said today that the company, its dealers and the Caterpillar Foundation will spend the money over the next five years to build, power and develop communities in Africa and to train local workers. The company and its dealers currently employ about 15-thousand workers in African countries.
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David Stewart/dlt IL)
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