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Source: Caterpillar Inc. news release

Caterpillar Inc. said it will close two production plants and a distribution facility in Illinois and shift the work to a plant in Michigan.

The move is a cost-cutting measure, the company said, and will mean the loss of about 170 jobs.

The three plants -- two in Sterling and one in Dixon -- belong to Anchor Coupling, a subsidiary of Caterpillar. Anchor Coupling makes hydraulic hose assemblies for Caterpillar machines.

The transition is expected to be completed in the first quarter 2015. Caterpillar said employees who are displaced will be offered severance packages from the company.

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