Heavy equipment maker Caterpillar Inc. said Monday that received a contract worth up to $641 million to build earth-moving tractor scrapers for the Defense Department.
It’s the largest single award from the department that the Peoria-based company has received, the company said in a statement.
The big machines, to be made in Decatur, will be used by the Marines and Army to build roads, airfields and for other jobs that require moving a large amount of dirt quickly, Caterpillar said in a statement.
The machines can be lifted and tied down for quick transport, the company said.
The five-year contract can be extended for another five years, meaning Caterpillar could make as many as 909 of the machines for the Defense Department.
Shares of Caterpillar rose 72 cents, to $73.90, in afternoon trading after hitting a 52-week high of $74 earlier in the session.
