{"id":7382,"date":"2016-10-04T16:56:17","date_gmt":"2016-10-04T16:56:17","guid":{"rendered":"http:\/\/minutes.machine.market\/?p=7382"},"modified":"2016-10-04T16:56:17","modified_gmt":"2016-10-04T16:56:17","slug":"minnesota-company-buys-former-caterpillar-plant-in-prentice","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/minnesota-company-buys-former-caterpillar-plant-in-prentice\/","title":{"rendered":"Minnesota company buys former Caterpillar plant in Prentice, WI"},"content":{"rendered":"<p>PRENTICE (<a href=\"http:\/\/www.waow.com\/story\/33306073\/2016\/10\/Monday\/minnesota-company-buy-former-caterpillar-plant-in-prentice\" target=\"_blank\" rel=\"noopener noreferrer\">WAOW<\/a>) &#8211; A Minnesota-based company said Monday it completed the acquisition of a heavy equipment factory in <a href=\"http:\/\/www.prenticeforestry.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Prentice<\/a> formerly owned by C<a href=\"http:\/\/www.cat.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">aterpillar<\/a>, saving dozens of jobs.<\/p>\n<ul>\n<li><a href=\"http:\/\/minutes.machine.market\/index.php\/2016\/08\/04\/caterpillars-prentice-facility-will-close-in-sept\/\" target=\"_blank\" rel=\"noopener noreferrer\">Caterpillar\u2019s Prentice Forestry facility in Wisconsin will close in September<\/a><\/li>\n<\/ul>\n<p>Caterpillar began laying off workers last week in plans to discontinue production at the forest products plant as part of a global restructuring to reduce costs. About 150 workers lost their jobs, the company said.<\/p>\n<p><a href=\"http:\/\/www.specsys.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">SpecSys Inc.<\/a>, a contract engineering and manufacturing company headquartered in Montevideo, Minn., said it bought the plant as part of its two-decade strategy to seek rurally-located manufacturing operations, Chief Executive Officer Kevin Wald said.<\/p>\n<p>No purchase price was disclosed.<\/p>\n<p>SpecSys sells 25,000 hours of manufacturing services and 5,000 hours of engineering services each month, Wald said.<\/p>\n<p>At 220,000 square feet, the Prentice plant is a &#8220;nice step up in capacity,&#8221; Wald said in a statement. &#8220;The values you find in a rural work force have been a cornerstone of our companies from day one.&#8221;<\/p>\n<p>SpecSys intends to start with producing forestry products machines in Prentice but hopes to also manufacture equipment for mining, agriculture, railroad and energy companies, Wald said. The plant was founded in 1945.<\/p>\n<p>Wald&#8217;s parent company Ritalka, which stands for the Wald&#8217;s three children Riley, Tallen and Kayla, supports other companies and government agencies, according to its web site.<\/p>\n<p>SpecSys, one of the Ritalka&#8217;s subsidiaries, has 225 workers at plants in seven sites in Minnesota and South Dakota, Wald said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PRENTICE (WAOW) &#8211; A Minnesota-based company said Monday it completed the acquisition of a heavy equipment factory in Prentice formerly owned by Caterpillar, saving dozens of jobs. Caterpillar\u2019s Prentice Forestry facility in Wisconsin will close in September Caterpillar began laying off workers last week in plans to discontinue production at the forest products plant as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7383,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[2,8],"tags":[266],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Minnesota company buys former Caterpillar plant in Prentice, WI - MachineMarket Blog<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cranemarket.com\/blog\/minnesota-company-buys-former-caterpillar-plant-in-prentice\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Minnesota company buys former Caterpillar plant in Prentice, WI - MachineMarket Blog\" \/>\n<meta property=\"og:description\" content=\"PRENTICE (WAOW) &#8211; A Minnesota-based company said Monday it completed the acquisition of a heavy equipment factory in Prentice formerly owned by Caterpillar, saving dozens of jobs. 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