Dow 30 Component Caterpillar, Inc. (CAT) is the world’s chief manufacturer of diesel and natural gas engines, construction and mining equipment, industrial gas turbines, and diesel-electric locomotives. Caterpillar, Inc. also works to make sustainable progress possible and contributes to driving positive change on every continent.
Caterpillar, Inc. recently announced its entrance into a preliminary agreement to sell the Cat® purpose-built forestry business to Weiler, Inc. The agreement, which is expected to close by early 2019, is still open to negotiation of the final agreement.
In the agreement, Caterpillar will still provide forestry excavators and other core Caterpillar equipment to the forestry industry, and Weiler will design and manufacture purpose-built forestry products that will be made available through Cat and Prentice dealer networks.
The projected deal currently includes the line of purpose-built forestry products that consist of track feller bucnhers, wheel skidders, wheel feller bunchers, knuckleboom loaders, and related operations facilities such as the manufacturing plant and warehouse in the town of LaGrange, Georgia, the demonstration and training center in Auburn, Alabama, and the legacy Prentice parts distribution center in Smithfield, North Carolina.
Weiler has an upstanding history of the successful manufacturing of purpose-built equipment distributed through the Cat dealer network that currently includes an expansive portfolio of products.
The nearly 270 employees that are currently a part of the purpose-built forestry business will continue to keep employment with Weiler, and Caterpillar’s small number of employees will continue their roles in supporting forestry excavators and forest products field population.
Tom Pellette, Caterpillar Construction Industries Group President stated, “We remain committed to supporting our forestry customers and the forestry industry. The sale of the purpose-built forestry business enables Caterpillar and Weiler to serve the complete forestry industry while providing customers with the same outstanding sales and service support they’ve come to expect.”
To learn more about Caterpillar, Inc. (CAT) and to continue to track its progress please visit the Vista Partners Caterpillar, Inc. Coverage Page.
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