According to several local Minnesota news sources, Caterpillar said Thursday they are planning to close their Owatonna plant and consolidating operations within their forestry business.

Caterpillar officials said the move will be done by March 1, 2013, and about 100 employees will be affected by the decision. Employees will be offered a severance package, and the company will help them work with agencies on getting placed in other jobs.

Officials said some engineering work will stay in the Owatonna area, but forestry products currently being made there will shift to other plants in Prentice, Wis., and LaGrange, Ga.