Caterpillar Inc. announced on June 25 that it plans to spend the next several months studying ways to modernize its 45-year-old headquarters in Peoria, Ill., according to an Associated Press report in CantonDailyLedger.com.

The study will focus on the company’s long-term needs, including its building and technology, and while there are no plans yet to add to or subtract from Caterpillar’s Peoria presence, “all options are open,” spokesman Rusty Dunn said in the report.