OTHER NEWS - Dec. 12, 1991
From Times Staff and Wire Reports
Caterpillar Slashes Dividend: The board of Caterpillar Inc. cut its quarterly cash dividend in half and announced the “probable closing” of its York, Pa., manufacturing plant. The company also said it would reduce and consolidate its operations in Brazil, where rampaging inflation has racked the company’s earnings. The cost of the plant closings would result in a fourth-quarter charge of $220 million, the company said.
