MUNICH, Germany, April 23 /PRNewswire-FirstCall/ -- Caterpillar Inc. (NYSE:CAT) will showcase its machines, engines and customer solutions to thousands of visitors beginning Monday, 23 April at the opening of bauma 2007, the world's largest construction industry trade show. Throughout the weeklong show, visitors will see more than 60 Cat machines on display. All are new or improved models that set the industry standard for quality, technological innovation and value.
"Since the last bauma in 2004, we have invested more than $3 billion in research and development to update our entire product line and incorporate state-of-the-art technologies that are more productive and more environmentally sustainable," Caterpillar Chairman and Chief Executive Officer Jim Owens said. "During bauma 2007, Caterpillar, alongside our dealer, Zeppelin, has a tremendous opportunity to engage customers and showcase our products and services in a region of the world that is key to the company's success and future growth."
New products on display include the 992K large wheel loader, 953D track-type loader, D-series medium-size hydraulic excavators, M318D and M322D material handlers, H-series compact wheel loaders, C-series multi terrain loaders and skid steer loaders, and a number of new work tools. Many are on display for the first time to our European, African, and Middle Eastern and Commonwealth of Independent States markets. All feature the new Power Edge(TM) trade dress -- the new combination of colors, striping, decals and trademarks that appear on Cat products -- which captures the essence of the Caterpillar brand: quality and reliability.
More than 400,000 visitors are expected at the show. In addition to showing the best solutions and products available in the industry, Caterpillar will help equip customers with everything they need, including financial services and product support options. All are presented in simple, easy-to-understand packages that ensure customers get the best service options through every step of the equipment lifecycle.
In 2006, sales in the Europe, Africa, Middle East and Commonwealth of Independent States markets represented nearly a quarter of the company's overall sales and revenues, or approximately $10.6 billion. In addition, products manufactured in European Cat facilities are sold worldwide. To reach its 2010 goal of more than $50 billion in total sales and revenues, Caterpillar will continue to invest in new products, technologies and services as well as increase manufacturing capacity. Dealers around the world are also investing to increase their product support capabilities.
At the same time, the company recognizes its environmental responsibility to offer solutions that enable Caterpillar and its customers to operate more sustainably. The theme of the company's bauma exhibit this year -- "Your Success. Our Commitment." -- highlights Caterpillar's dedication to working with customers to achieve their goals.
"Caterpillar is uniquely positioned to make a remarkable impact on the world," Owens said. "We operate in areas that represent society's most basic needs: energy, materials, mobility and development. By putting our creativity and experience to work, we are demonstrating that it's possible to develop new solutions, grow profitably and preserve the environment -- which helps create a more sustainable world."
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.
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" and "expect" 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-K filed with the Securities and Exchange Commission on February 23, 2007. We do not undertake to update our forward-looking statements.
Source: Caterpillar Inc.