JURONG TOWNSHIP, Singapore, Sept. 4 /PRNewswire-FirstCall/ -- As part of its strategic plan to increase remanufacturing operations and better support the mining market in Asia, Caterpillar Inc. (NYSE: CAT) announced today it will open a new remanufacturing facility in Singapore. The new site will serve as the regional source for remanufactured major components, including mining truck engines, transmissions, final drives and torque converters.
"The opening of the facility in Singapore is evidence of our ability to provide remanufactured products on a global scale to new markets and customers," said Steve Fisher, Caterpillar vice president with responsibility for remanufacturing. "This new facility increases our global capacity and further demonstrates our commitment to providing remanufactured products to customers around the world."
The facility in Singapore will expand Caterpillar's current remanufacturing operations in the Asia-Pacific region, which includes an existing Caterpillar remanufacturing facility located in Shanghai, China. The new 20,000m(2) (215,168 ft (2)) remanufacturing facility will offer an expanded product portfolio to support the mining market in Asia. The Singapore facility is anticipated to be fully operational by mid-2010. The new operation will be certified by the Singapore Building and Construction Authority (BCA) Greenmark and is planned to receive the U.S. Green Building Council LEED Compliant status. Construction will begin during the fourth quarter of this year.
The establishment of the Singapore facility expands Caterpillar's regional sourcing and business strategy, allowing dealers in Asia to meet the product support challenges associated with growth in the region tied to mining and large infrastructure projects.
"Caterpillar's strong marketing and distribution presence in Singapore will provide the much-needed support for building another world-class, customer-focused remanufacturing facility in the region," said Rod Beeler, Caterpillar vice president with responsibility for the Asia Pacific Marketing Division.
According to Caterpillar Group President Doug Oberhelman, the opening of the remanufacturing facility is further evidence of the company's commitment to sustainable development. "Compared to manufacturing new components, remanufacturing requires less energy, less water and fewer raw materials. The facility in Singapore will support our mining customers in the region by offering a sustainable solution, enabling those customers to provide for the future energy needs of the developing world," said Oberhelman.
The Singapore facility will join 17 other Caterpillar remanufacturing facilities located in the United States, Mexico, Europe and Asia. Caterpillar is one of the world's largest remanufacturers, recycling more than two million pieces and 140 million pounds of core material annually. It uses state-of-the-art remanufacturing technology to recycle used products, such as engines and transmissions, into like-new components.
For more than 80 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2007 sales and revenues of $44.958 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.
Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of Caterpillar Inc. to be different from those expressed or implied in the forward-looking statements. In this context, words such as "will," "expect," "anticipate" or other similar words and phrases often identify forward-looking statements made on behalf of Caterpillar. It is important to note that actual results of the company may differ materially from those described or implied in such forward-looking statements based on a number of factors and uncertainties, including, but not limited to, changes in economic conditions; currency exchange or interest rates; political stability; market acceptance of the company's products and services; significant changes in the competitive environment; epidemic diseases; changes in law, regulations and tax rates; and other general economic, business and financing conditions and factors described in more detail in the company's Form 10-Q filed with the Securities and Exchange Commission on August 1, 2008. This filing is available on our website at http://www.cat.com/secfilings. We do not undertake to update our forward-looking statements.
SOURCE Caterpillar Inc.