PEORIA, Ill., Aug. 24, 2012 /PRNewswire/ -- Caterpillar Logistics Inc. (Cat Logistics), a wholly owned subsidiary of Caterpillar Inc. (NYSE: CAT), today announced plans for a new parts distribution center in Yatala, Australia (between Brisbane and the Gold Coast). When at full capacity, the 500,000-square-foot facility will employ up to 150 people and is expected to be operational mid-2013. The new facility will be an important link in the Cat parts distribution network and will support the Cat dealers in Australia.
"This investment in a key market for Cat products is the next step in the multiyear expansion of our global parts distribution network. We are focused on ensuring our customers' success through a global, high velocity network that delivers the industry's best parts availability," said Steve Larson, vice president of Caterpillar Inc. and president of Cat Logistics.
Access to major air and seaports complemented by a major highway network make this an ideal location for a strategic logistics operation. This facility will be the seventh new parts distribution center in the modernization plan and will join previously announced facilities in Waco, Texas; Clayton, Ohio; Spokane, Washington; Central California; Dubai, UAE and recently announced San Luis Potosi, Mexico. These new facilities represent an increase of nearly four-and-one-half million square-feet to the overall distribution network and support our commitment to providing unmatched parts availability to customers and dealers around the world.
Expansion of existing Cat parts distribution facilities is also taking place in Grimbergen, Belgium; Melbourne, Australia; and Shanghai, China. All of these facilities are leveraging common systems and processes in addition to Service Parts Management (SPM), a global solution that replaces multiple legacy software systems supporting the Cat parts network.
"All of these investments have the singular purpose of ensuring that Caterpillar and Cat dealers support our customers' success better than anyone else," Larson added.
For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2011 sales and revenues of $60.138 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. 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.caterpillar.com.
Certain statements in this press release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "project," "intend," "could," "should" or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance, and we do not undertake to update our forward-looking statements.
Caterpillar's actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global economic conditions and economic conditions in the industries and markets we serve; (ii) government monetary or fiscal policies and infrastructure spending; (iii) commodity or component price increases and/or limited availability of raw materials and component products, including steel; (iv) our and our customers', dealers' and suppliers' ability to access and manage liquidity; (v) political and economic risks and instability, including national or international conflicts and civil unrest; (vi) our and Cat Financial's ability to: maintain credit ratings, avoid material increases in borrowing costs, and access capital markets; (vii) the financial condition and credit worthiness of Cat Financial's customers; (viii) inability to realize expected benefits from acquisitions and divestitures, including the acquisition of Bucyrus International, Inc.; (ix) international trade and investment policies; (x) challenges related to Tier 4 emissions compliance; (xi) market acceptance of our products and services; (xii) changes in the competitive environment, including market share, pricing and geographic and product mix of sales; (xiii) successful implementation of capacity expansion projects, cost reduction initiatives and efficiency or productivity initiatives, including the Caterpillar Production System; (xiv) sourcing practices of our dealers or original equipment manufacturers; (xv) compliance with environmental laws and regulations; (xvi) alleged or actual violations of trade or anti-corruption laws and regulations; (xvii) additional tax expense or exposure; (xviii) currency fluctuations; (xix) our or Cat Financial's compliance with financial covenants; (xx) increased pension plan funding obligations; (xxi) union disputes or other employee relations issues; (xxii) significant legal proceedings, claims, lawsuits or investigations; (xxiii) compliance requirements imposed if carbon emissions legislation and/or regulations are adopted; (xxiv) changes in accounting standards; (xxv) failure or breach of IT security; (xxvi) adverse effects of natural disasters; and (xxvii) other factors described in more detail under "Item 1A. Risk Factors" in our Form 10-K filed with the SEC on February 21, 2012 for the year ended December 31, 2011. This filing is available on our website at www.caterpillar.com/secfilings.
SOURCE Caterpillar Inc.