DGAP-News: Wacker Neuson SE: Wacker Neuson SE and Caterpillar Inc. sign strategic alliance for mini hydraulic excavators up to 3 tons
(firmenpresse) - Wacker Neuson SE / Strategic Company Decision/Alliance
24.06.2010 09:50
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Wacker Neuson SE and Caterpillar Inc. sign strategic alliance for mini
hydraulic excavators up to 3 tons.
Wacker Neuson to develop and produce exclusively Caterpillar branded mini
hydraulic excavators.
(Munich, June 24, 2010) The relevant executive bodies of Wacker Neuson SE,
Munich, Germany (ISIN DE000WACK012) and Caterpillar Inc., Peoria, USA
(NYSE:CAT) have signed an agreement regarding the design, manufacture,
distribution and support of Caterpillar mini excavators up to 3 tons. The
aim of the cooperation is that the two parties form a long-term strategic
alliance.
Manufacture of Caterpillar mini excavators by Wacker Neuson from mid 2011
onwards
The agreement with a term of 20 years includes the development and
manufacture of mini excavators with an operating weight of up to three tons
designed to Caterpillar's specifications at Wacker Neuson's production
plant in Linz, Austria. Wacker Neuson will leverage its manufacturing and
product development capability to produce Caterpillar mini excavators in
the under 3-ton category. Caterpillar currently offers three models in this
size range. The new model range will consist of up to seven machines,
starting with an operating weight of 0,8t. The mini excavators will be
produced to Caterpillar's technical and brand specifications and will be
distributed and supported via Caterpillar's global dealer network, with the
exception of Japan. All Caterpillar models will be clearly differentiated
from comparable Wacker Neuson models in the same product range. The
additional volume in the first year of full production in 2012 will more
than double the existing production volume of comparable mini excavators on
Wacker Neuson's production lines.
'We know many customers are looking for more options in this size range,
and this alliance will give those customers expanded choices to help them
grow their business,' said Mary Bell, Caterpillar vice president with
responsibility for the Building Construction Products Division. 'There is
also an ideal cultural fit between Caterpillar and Wacker Neuson, as both
companies have a strong focus on developing and supporting world class
products. Over the years, Wacker Neuson has developed a strong reputation
among our Caterpillar dealers, who have become familiar with Wacker
Neuson's Light Equipment products, which are available at Cat Rental
stores,' Bell added.
The two companies recognize the benefits and synergies of utilizing Wacker
Neuson's development and production capacity and distributing machines via
the respective sales networks - a move that will improve both companies'
competitive position. The Caterpillar dealer network is a highly respected
and a powerful sales channel for construction equipment worldwide.
Similarly respected are Wacker Neuson's sales channels, which are focused
on Light and Compact Equipment, including independent dealers, independent
and national rental companies and direct sales in selected countries.
By concentrating production of selected products at Wacker Neuson's mini
excavator production in Linz, Austria, the two companies will leverage
joint economies of scale in the manufacturing and development process,
while supplying their respective, complementary sales channels with
differentiated, competitive machines. 'We are delighted at the prospect of
what promises to be a long term strategic partnership for both companies as
we move forward and probably will accelerate our investment in a new and
highly efficient mini excavator production plant in Hörsching near Linz'
explains Dr.-Ing. Georg Sick, CEO of Wacker Neuson SE. The partnership will
enable both parties to spread the cost of developing and modifying
lower-emission products across higher volumes.
About Wacker Neuson
Wacker Neuson SE is a global manufacturer of light and compact equipment.
With over 30 affiliates and more than 180 sales and service stations across
the globe, the company offers an exceptionally broad product portfolio.
Manufacturing activities are distributed across three German, one Austrian,
two American and one Philippine production sites. Almost all products
manufactured by the company are branded Wacker Neuson. The only exceptions
to this in Europe are Kramer Allrad products and Weidemann-branded
agricultural machinery. With over 300 product categories and complementary
rental, spare parts and repair services, Wacker Neuson is the partner of
choice among professional users in construction, gardening, landscaping and
agriculture, as well as among municipal bodies and companies in the
industrial and recycling sectors.
About Caterpillar:
For more than 85 years, Caterpillar Inc. has been making progress possible
and driving positive and sustainable change on every continent. With 2009
sales and revenues of $32.396 billion, Caterpillar is the world's leading
manufacturer of construction and mining equipment, diesel and natural gas
engines and industrial gas turbines. 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.cat.com.
Your contact partner at Wacker Neuson:
Wacker Neuson SE
Katrin Neuffer
Preussenstr. 41
80809 Munich
Tel. +49 - (0)89 - 354 02 - 173
katrin.neuffer(at)wackerneuson.com
http://www.wackerneuson.com
24.06.2010 09:50 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Wacker Neuson SE
Preußenstr. 41
80809 München
Deutschland
Phone: +49 - (0)89 - 354 02 - 0
Fax: +49 - (0)89 - 354 02 - 390
E-mail: info(at)wackerneuson.com
Internet: www.wackerneuson.com
ISIN: DE000WACK012
WKN: WACK01
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hannover, München, Hamburg, Stuttgart
End of News DGAP News-Service
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Datum: 24.06.2010 - 09:50 Uhr
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