Caterpillar Inc. announced that it will move it global headquarters from Deerfield, IL to an existing office in Irving, TX.

“We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world,” Caterpillar Chairman and CEO Jim Umpleby said in a statement.

The move is expected to affect about 230 employees in the Deerfield office, the majority of whom will be relocated to Texas over time, spokeswoman Kate Kenny said.

The Chicago Tribune reported that the company will begin transitioning its headquarters this year. Kenny did not provide a specific time frame for the move, but said the company has a lease for its Deerfield office that would “allow for an orderly and flexible transition for our employees,” and company leaders will work with employees individually.

Caterpillar has offices and manufacturing locations throughout Illinois, including an office in Chicago, and Kenny said the move will not affect any other Chicago-area locations. Illinois is expected to remain the largest concentration of Caterpillar employees in the world, with more than 17,000 employees in the state, most of them near Peoria.

The announcement comes more than five years after the mining and construction equipment manufacturer said it would move its headquarters from Peoria to Deerfield. The company took over the former headquarters of alcoholic beverage-producer Beam Suntory, which moved to downtown Chicago.

At the time, Umpleby cited Deerfield’s proximity to O’Hare International Airport and accessibility to Chicago.

Caterpillar’s announcement comes slightly more than a month after defense contractor and airplane-maker Boeing said it would move its headquarters out of Chicago, but would continue to employ hundreds of people in the city.

In 2016, Caterpillar moved its surface mining headquarters to Tucson, AZ.