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In government filings submitted late last week, the company said the plant would mark its last day on February 9.
Caterpillar spokesman Rusty Dunn told local newspaper the Lexington Herald-Leader that work done at the site, which primarily focuses on mining draglines, would be sent to its Florida and Texas facilities and more geographically convenient regional dealer facilities.
“This is certainly not a negative reflection on the employees there," he told the paper.
“Mount Sterling has been a great community to us, but this is an action with the eye on the long term and really putting ourselves in the best position to work with our Caterpillar dealers.”
Dunn confirmed Cat would offer severance packages to axed staff and aid in outplacement services.
“We're going to do everything we can to make sure we minimize the pain associated with this,” he said.
The Mount Sterling factory is one of many owned by Illinois-based Caterpillar.
The location was previously owned by the OEM Bucyrus International, which Cat acquired in 2011.
