PEORIA, Ill., April 23 /PRNewswire-FirstCall/ -- Caterpillar Inc. (NYSE:CAT) announced today it has completed the purchase of Eurenov S.A.S. (Eurenov), a remanufacturer of engines, transmissions and components for leading European automotive manufacturers. Caterpillar Remanufacturing Services (Cat Reman) recently concluded the two-phase purchase process, which was first announced in June 2005. Eurenov operates its primary facility in Chaumont, France, and another facility in Radom, Poland.
"This acquisition is an excellent strategic fit for us. It will allow Cat Reman greater access to the European automotive and industrial engine and transmission remanufacturing market with expansion into eastern Europe," said Steve Fisher, Caterpillar vice president with responsibility for the Remanufacturing Division. "At the same time, Eurenov will benefit from access to Caterpillar's expertise in technology and logistics."
Eurenov Chairman and Chief Executive Officer Denis Tremeau said, "We're very excited about the next phase of growth for our business and the opportunities we'll have as a part of Cat Reman. They are an admired global leader in the remanufacturing industry, and their competencies will enhance our ability to meet customer needs."
Eurenov began operations in 1973 as SNOM and today employs about 180 employees. The company offers a variety of products such as remanufactured engines, new and remanufactured transmissions and remanufactured fuel injection pumps to original equipment manufacturer clients.
Eurenov joins 15 other Caterpillar remanufacturing facilities located in North America, Latin America, Europe and Asia. Caterpillar is the world's largest industrial remanufacturer, recycling more than two billion pounds of material annually. It uses state-of-the-art remanufacturing technology to recycle used products, such as engines and transmissions, into like-new components.
About Caterpillar Remanufacturing Services
Caterpillar Remanufacturing Services offers integrated solutions for remanufacturing development and operations, core management and distribution. One of the world's largest remanufacturers, Cat Reman operates facilities in the United States, United Kingdom, and Mexico to serve its parent company and other original equipment manufacturers. Cat Reman recovers materials through differentiated technology and employs environmentally sustainable practices to restore components to like-new condition.
For more than 80 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2006 sales and revenues of $41.517 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.
Source: Caterpillar Inc.