CHAMPAIGN (AP) – Caterpillar Inc. announced Monday that it plans to spend the next several months studying ways to modernize its 45-year-old headquarters in Peoria.

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.

“This thing was built in 1967,” Dunn said, referring to the headquarters just off the Illinois River in downtown Peoria. “What Caterpillar was in 1967 is much, much different than what we are today and where we think we’re headed.”