Tag: Caterpillar

Ritchie Bros. to Acquire Ironplanet

• Increases customer choice; enhances online offerings; provides penetration into large, additional segments
•Business combination expected to significantly increase growth in revenue and earnings; effectively uses strength of Ritchie Bros.’ balance sheet
•Transaction expected to be accretive to earnings within first year (excluding acquisition-related costs)
• Long-term alliance reached with Caterpillar
With more than $US3 billion in annual online equipment sales, the combined company will rank among the world’s top 50 B2B e-commerce companies
Ritchie Bros. Auctioneers Incorporated, the world’s largest industrial auctioneer and a leading equipment distributor and IronPlanet, a leading online marketplace for used heavy equipment and other durable asset sales, today jointly announced that they have entered into an agreement under which Ritchie Bros. will acquire IronPlanet for approximately US$758.5 million, subject to customary closing adjustments.

Caterpillar To Build Own Range of Mini-Excavators

Caterpillar has announced that following the ending of the alliance with Wacker Neuson, that the Building Construction Products Division will design and manufacture a new range of machines, building on the proven attributes of the larger Cat mini excavators.

Five of the current models (301.4C, 301.7D, 301.7D CR, 302.2D and 302.4D) manufactured by Wacker Neuson will phase out in mid-2018, and the 302.7D CR will phase out at the end of 2019. The 300.9D will also phase out at the end of 2019 or later if mutually agreed by both parties.

Wacker Neuson and Caterpillar to end strategic alliance for mini hydraulic excavators under three tons operating weight in 2018

Wacker Neuson has today announced that it has been agreed to terminate the strategic alliance for mini-hydraulic excavators that it has with Caterpillar since 2010 under a joint agreement. In 2010, Wacker Neuson and Caterpillar entered into a strategic alliance which saw Wacker Neuson developing and producing mini hydraulic excavators under three tons operating weight exclusively for Caterpillar.

They do not give any reason for the ending of the alliance. However, Roger Lindley, editor of Contractors World International has commented on what appear to identical products presented in each company’s corporate colours. However, the statement says Wacker Neuson will produce models ‘exclusively for Caterpillar’. (See article “Are Power Packs the Future for Compact Equipment?” page 46 where mini-excavators with a power pack are featured with virutally identical photographs for Caterpillar and Wacker Neuson.)

Caterpillar Reaches Milestone of 75,000 wheel tractor scrapers

Caterpillar Inc. employees marked a major milestone recently, commemorating the production of 75,000 wheel tractor-scrapers at the Decatur, Illinois facility. The historic machine, an open-bowl, twin-engine 627K, is built to move high volumes of material quickly and economically with optimum fuel efficiency.

“Scraper sales have been rebounding steadily in North America since the last downturn,” said Caterpillar Mining Products Vice President Tom Bluth. “And with our new K Series machines, we’re in a great position to win business outside North America as construction investment recovers.”

Lenaik Andrieux of Caterpillar Appointed President of EUROPGEN

Lenaik Andrieux, Caterpillar General Manager of Electric Power Retail in Geneva, Switzerland, has been appointed President of EUROPGEN, the European Generating Set Association. He will begin his three-year term in June 2014.

Andrieux has extensive industry experience in the electrical and generator set industry, including the 13 years with Caterpillar Electric Power. Prior to joining Caterpillar in 2001, he spent three years with Kohler/SDMO.

“I am honored to serve Europe’s generator set manufacturers as we face the challenges in our industry,” Andrieux said. “With the right policies and legislation in place, Europe can continue to be a leader in the global marketplace in this important industry.”

Worldwide responsibility for Bill Giunta, Perkins

Perkins has announce that Bill Giunta has accepted the position of general manager, global sales and marketing, effective February 1, 2014. Bill, who is relocating to Peterborough, UK, to take up his new role, joins Perkins from Caterpillar’s Electric Power Division based in Georgia, USA, where he was commercial manager.

With commercial responsibility for marketing, branding, sales and product support for the Perkins engine brand, Bill’s extensive, global customer-facing experience in field service, sales and marketing, make him particularly suited to the role.

“I’m delighted to be leading the global sales and marketing team during an exciting time for the Perkins brand,” said Bill. “We’re working closer than ever before with our customers around the world, supporting both the integration of our machines into their applications, as well as on collaborative marketing activities, to ensure we’re all successful in today’s competitive marketplace.

Caterpillar Unveils First Hybrid Excavator

Caterpillar Inc. has unveiled the first model in its new line of hybrid excavators, the Cat 336E H, at its Mossville Industrial Design Center. The new 336E H will be sold and serviced exclusively through the global Cat dealer network following the machine’s official launch at bauma 2013 in Munich, Germany. The order board for the Cat 336E H opens in Feb. 2013, with factory shipments beginning in March 2013.

The Cat 336E H uses a new hydraulic hybrid technology developed by Caterpillar. “A hybrid is independent of any particular technology—it doesn’t have to be electric,” said Ken Gray, global product manager for large hydraulic excavators for Caterpillar’s Excavation Division. “There are many ways to store and reuse energy, including our patented hydraulic hybrid system featured on the Cat 336E H.”

“Caterpillar has developed, built, and tested electric hybrid excavators, but—until now—we had not found a hybrid approach that would actually lower our customers’ owning and operating costs,” Gray said. “Large excavators operate in high-production applications in which fuel is a very significant operating cost for our customers. So, the 336E H, the hybrid version of our workhorse 336E, is ideal for introducing our new hydraulic hybrid technology, with its more than 300 filed patents.”

Finning to acquire portion of Bucyrus distribution business from Caterpillar

Acquisition positions Finning to provide broad and unmatched support to mining customers

Finning International Inc. has announced the companies have reached an agreement for Finning to acquire from Caterpillar the distribution and support business formerly operated by Bucyrus in portions of South America and Western Canada and in the U.K. After closing, Finning expects to begin providing sales, service and support for former Bucyrus mining products in all of Finning’s dealership territories.

The transaction is valued at approximately USD $465 million. Finning expects to fund the transaction primarily through the issuance of U.S. and Canadian dollar denominated term debt. The transaction is expected to be accretive to Finning’s 2012 earnings.

Caterpillar, Navistar Announce Next Phase of Global Truck Alliance for On-Highway and Vocational Trucks

Caterpillar Inc. and Navistar International Corporation have announced the next phase of cooperation between the two companies to develop, manufacture, sell and support vocational and on-highway trucks for the North America market and the rest of the world.

In June of 2008, the two companies announced plans to form an alliance for the on-highway truck business. This led to the creation of a 50/50 joint venture called NC2 Global LLC. NC2 is focused on the development of on-highway trucks for markets outside of North America, including current truck offerings in Australia, South Africa and Brazil. The two companies also have an agreement to produce Cat heavy-duty
vocational trucks for North America. Earlier this year, the Cat CT660 vocational truck was unveiled at the CONEXPO/Con-Agg 2011 trade show and customer deliveries of the trucks have recently started.

Australia: NC2 Names Bill Fulton Managing Director

Demonstrating its commitment to the Australian truck market, NC2 Global, LLC named long-time Caterpillar senior manager, Bill Fulton, to the newly created position of Managing Director, Australia, with responsibility for Cat trucks and distribution in that market.

Demonstrating its commitment to the Australian truck market, NC2 Global, LLC named long-time Caterpillar senior manager, Bill Fulton, to the newly created position of Managing Director, Australia, with responsibility for Cat trucks and distribution in that market.

NC2 is the 50/50 joint venture between Caterpillar and Navistar. The company launched the first-ever Cat on-road trucks, the Cat CT610 and the Cat CT630, in Australia in November 2010.

“Bill Fulton is well qualified to lead our expanding presence in Australia, which is one of our priority markets worldwide,” said NC2 President Phil Christman. “Bill’s experience in building our global distribution network at NC2, and his deep knowledge of the on-highway engine business from Caterpillar, gives him extensive experience in addressing the needs of Australian on-highway truck customers. He is committed to continuing to build our Cat truck lineup in Australia, along with a Cat distribution network that stands second to none in providing customer support.”