Caterpillar Outlines Aggressive Investment Plans for Analysts at CONEXPO-CON/AGG Trade Show

Caterpillar Inc. (NYSE: CAT) Chairman and CEO Doug Oberhelman and members of the company’s Executive Office updated analysts today on Caterpillar’s significant long-term growth opportunities and investments being made around the world to position the company to satisfy growing demand from customers. The meeting with analysts and institutional investors took place at the CONEXPO-CON/AGG trade show in Las Vegas, Nevada, the international showcase for the construction industry. At the show, Caterpillar is displaying nearly 40 machines, a wide variety of work tools, technology solutions, engines and components comprising three different exhibits totaling 60,000 square feet.

With worldwide machine demand already near the prior peak less than two years after the bottom of the worst recession in decades, and with more growth expected in the coming years, Caterpillar is focused on ramping up production and adding capacity around the world while maintaining a sharp focus on controlling costs.

“With business continuing to improve around the globe, we’re confident in our ability to deliver our 2012 goals and are focusing the company on our targets for 2015,” said Caterpillar Chairman and CEO Doug Oberhelman.

Caterpillar also outlined its new organizational structure with Group Presidents Rich Lavin and Steve Wunning discussing the growth opportunities and investments in Caterpillar’s machine businesses. Group President Gerard Vittecoq talked to analysts about growth and investment in the company’s power systems business.

“By 2015, we will have made $5 billion in investments to increase production capacity at existing and new Caterpillar facilities to support customers in every region of the world, including plans to nearly triple machine capacity across our operations in Asia,” said Oberhelman. “This is in addition to more than $10 billion in investments announced in 2010 for three significant acquisitions—Electro-Motive Diesel, Inc., Motoren-Werke Mannheim Holding GmbH (MWM) and Bucyrus International, Inc. Together, these moves represent Caterpillar’s commitment to leadership in support of our growing base of customers and to expand our products and services,” Oberhelman added.

At the meeting, Caterpillar’s Group President and CFO Ed Rapp outlined the company’s “portfolio management” approach to targeting investment opportunities.

“We’re focusing our resources on the key industries that offer the best sales and profit growth potential over the long-term and that fit our strategic profile—in other words, great growth opportunities that fit well with the strengths of Caterpillar,” Oberhelman said.

In 2010, Caterpillar updated the strategy and streamlined the organization to better serve customers, stockholders and employees.

“With the opportunities we see around the world, we have a very bright future,” said Oberhelman. “We also have a strong financial position and a strategy that focuses on helping our customers win. Our employees and leaders are moving at full speed and are ready to go to achieve our 2015 targets.”

About Caterpillar:
For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2010 sales and revenues of $42.588 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at: http://www.caterpillar.com/.

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Navistar Introduces New International WorkStar with Sloped Hood Option, Enhanced Interior Features

At a press event at this week’s CONEXPO-CON/AGG construction industry trade show, Navistar today introduced several new features for its International® WorkStar® line of severe service trucks. Along with an all-new high visibility sloped hood option, the new WorkStar model will also include a completely refined interior with ergonomic enhancements and improved driver comfort features.

“Together with the improved visibility and interior enhancements, the WorkStar provides an added level of comfort and convenience that allows these vocational truck drivers to do their jobs safely and effectively.”
 

“With the new sloped hood, WorkStar is now available in a comprehensive range of specifications to meet the diverse needs of our vocational truck customers,” said Jim Hebe, Navistar’s senior vice president, North American sales operations. “Together with the improved visibility and interior enhancements, the WorkStar provides an added level of comfort and convenience that allows these vocational truck drivers to do their jobs safely and effectively.”

 

The new sloped hood option on WorkStar provides best-in-class visibility for the driver. In addition, a strong vocational “mega-bracket” design inspired from the International PayStar® 5900 Set-Back Axle (SBA) supports the radiator and front-end. Following are the key product features for the International WorkStar 7600 with high visibility sloped hood option:

• 113” BBC for maximum maneuverability on the worksite
• Provides best-in-class visibility for the driver
• Features heavy-duty 150,000-pound tow hooks
• Available in 4×2 and 6×4 axle configurations

Will also be available for REPTO and transmission mounted PTO applications

In addition to the high visibility sloped hood option, the International WorkStar also features a completely redesigned and refined interior designed with the construction customer in mind. The new WorkStar interior features: 

• Easy-to-read ivory gauges or chrome bezel black gauges on instrument panel
• Premium rosewood trim on the dashboard and instrument panel
• An ergonomic center panel for easy access to auxiliary truck and body control switches
• Hands-on steering wheel controls for enhanced driver safety
• Easy-to-clean vocational floor mats and vinyl interior panels throughout the cab to improve durability
• A new back-wall pocket provides additional storage for the driver

“From our no-hassle MaxxForce Advanced EGR emissions technology and new products like the TerraStar™ and TerraStar 4×4 to the integration of Continental Mixers, we continue to focus on meeting the needs of construction customers,” Hebe added. “We are committed to delivering innovative, best-in-class products that move the construction market forward.”

Navistar, Inc.’s International® brand commercial trucks rank “Highest in Customer Satisfaction among Vocational Segment Class 8 Trucks and Heavy-Duty Truck Dealer Service”—the only two categories recognizing the Class 8 truck industry this past year—according to the J.D. Power and Associates 2010 Heavy-Duty Truck Customer Satisfaction Study (SM) released last summer. The 2010 Heavy-Duty Truck Customer Satisfaction Study is based on responses from 1,682 primary maintainers of 2009 model-year Class 8 heavy-duty trucks. The study was fielded in February and March 2010. For more information about the study, visit the J.D. Power and Associates press releases at http://businesscenter.jdpower.com/news/pressrelease.aspx?ID=2010102.

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