MOSCOW, Sept. 16 /PRNewswire-FirstCall/ -- Building on an 80-year history of serving customers in Russia, Caterpillar Inc. today unveiled the first hydraulic excavator assembled at the company's facility in Tosno, Russia. The machine is part of the Caterpillar display at the CONEXPO Russia trade show being held September 15-18 at the International Exhibition Center, Crocus Expo in Moscow. In addition to the 320D hydraulic excavator assembled in Tosno, the Caterpillar display includes more than two dozen Caterpillar machines and engines as well as displays focusing on Caterpillar services to help customers. A full range of Caterpillar paving and road building products will also be on display, targeting customers who are involved in the wide-range of transportation projects underway and planned in support of Russia's economic growth initiatives.
Earlier this year, Caterpillar announced it was implementing its long-planned strategy to include core machine assembly operations in its existing component production facility at Tosno. Caterpillar has manufactured components in Tosno since 2000, exporting those components from Russia to other Caterpillar machine factories in Europe. The hydraulic excavators assembled in Tosno are the first core machines Caterpillar has produced in Russia. The Tosno-built machines will be sold to customers in the rapidly expanding Russian market.
"In the last five years, our sales in Russia have increased more than 550 percent as we have supported customers who are playing a critical role in the strong growth and positive economic development taking place across Russia," Owens said. "The expansion of our operations in Russia in recent years, including the addition of excavator assembly at our Tosno facility, demonstrates our commitment to customers in Russia."
A major focus for Caterpillar in Russia and at the CONEXPO show is the oil and gas business in Russia. Across Russia, Caterpillar customers are using machines and engines to support oil and gas exploration, construction of pipelines and other infrastructure projects related to this vital industry. In recognition of the importance of the Russian market to the pipeline industry, CONEXPO Russia is the first trade show where Caterpillar is displaying its newest pipelayer, the PL61. With an 18-ton lift capacity, the PL61 pipelayer was designed and built primarily for pipeline contractors working in the most challenging environments. The machine features a Caterpillar C6.6 engine featuring ACERT Technology, and meets all current global emissions standards. Caterpillar is also displaying a 594 pipelayer that was originally sold to a Russian customer in 1971.
"The new PL61 pipelayer is the latest example of a world-class Caterpillar product that will allow our customers to increase the success of their operations," said Paolo Fellin, vice president of Caterpillar's EAME marketing Division, which includes Russia. "The 594 pipelayer is a great example of the durability, reliability and unique services that have made Caterpillar and our products the global leader in the industries we serve. Along with our world-class dealer network and our financial and logistics service businesses in Russia, Caterpillar provides unsurpassed value to our customers," Fellin added.
Caterpillar is celebrating the 35th anniversary of its first business office in Russia, which opened in 1973 in Moscow. Today, Caterpillar and its dealers have more than 100 locations and 4,000 employees in Russia and the Commonwealth of Independent States (CIS). In addition to the production facility in Tosno, Caterpillar operates a large parts distribution center near Moscow. Caterpillar Financial Services Corporation also has offices in Russia to assist in product financing as well as supporting projects in the region. The company's history in Russia dates to the early part of the last century. In 1929, the "Zernotrest" or Russia Grain Trust ordered more than 1,300 track-type tractors and 750 combine harvesters from Caterpillar after extensive testing and a competition with several manufacturers.
"Our sales to Russia and other nations during the late 1920s and 1930s helped Caterpillar weather the great depression," Owens said. "It is a perfect example of Caterpillar's long history and support of international trade and laws that support open trade, which is beneficial to the global economy. Those same economic principles benefit Caterpillar today as the slowdown in the North American economy has been more than offset by our increased sales to markets like Russia," Owens added.
About Caterpillar
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/.
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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.
