Caterpillar Inc. plans to spend several months studying ways to modernize its 45-year-old Peoria headquarters.

The Fortune 500 heavy-equipment maker said Monday that the study will focus on the company's facilities, technological and organizational needs.

Caterpillar spokesman Jim Baumgartner says Caterpillar has evolved from a primarily domestic company when the headquarters was built in 1967 to a global corporation with extensive overseas sales. Caterpillar has regional headquarters in other locations.

The company says the study will help it create what it calls a corporate headquarters footprint in Peoria.

Last year CEO Douglas Oberhelman reminded Gov. Pat Quinn that the company has out-of-state suitors to prompt the governor to work on improving the state's economy. But Oberhelman later said he wasn't threatening to leave Illinois.