Caterpillar Illinois facilities searched by law enforcement

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By Timothy Mclaughlin

<span class="articleLocation”>Federal law enforcement officials searched
facilities of heavy machinery manufacturer Caterpillar Inc in Peoria, Illinois, on Thursday, and the company’s
stock tumbled.

It was not immediately clear why federal agents raided three
Caterpillar locations.

Sharon Paul, spokeswoman for the U.S. Attorney Office for
the Central District of Illinois, confirmed that federal law
enforcement activity was conducted at three locations in Peoria,
East Peoria and Morton.

The facility in Morton, according to the company’s website,
is responsible for receiving and shipping after-market parts to
parts facilities and Cat dealers worldwide.

Caterpillar spokeswoman Corrie Scott said in an emailed
statement that the company was cooperating with authorities.

“Law enforcement is present in various Peoria-area
Caterpillar facilities executing a search warrant. Caterpillar
is cooperating,” Scott said. She declined to comment further.

Caterpillar shares were down more than 4 percent on the
news.

The Peoria Journal Star newspaper reported that law
enforcement officials were seen entering Caterpillar’s
headquarters. Some people were wearing jackets with the Internal
Revenue Service logo, the report said.

The newspaper also said a placard in the window of one of
the federal vehicles noted it was used by police from the U.S.
Department of Commerce Bureau of Industry and Security Office of
Export Enforcement.

The searches come a week after Caterpillar’s outgoing chief
executive, Douglas Oberhelman, met at the White House with
President Donald Trump. Oberhelman joked with Trump about
offering the president, who made his fortune as a real estate
developer, one of the company’s big D10 bulldozers.

“I love those D10s,” Trump replied, before saying that
Caterpillar’s business was being hurt “when we raise the dollar,
and we let other people manipulate their currencies.”

(Reporting by Timothy Mclaughlin in Chicago; Editing by Matthew
Lewis and Dan Grebler)



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