LAS VEGAS, March 20, 2011 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) unveiled its first Cat® Vocational Truck, the Cat CT660, today at a pre-CONEXPO-CON/AGG 2011 media event hosted by the company in Las Vegas. Five CT660s with different body styles will be on display beginning Tuesday when the tradeshow officially opens to the public.
"This is an exciting and historic milestone for us," said Caterpillar Vice President Steve Gosselin who has responsibility for the On-Highway Global Truck Group. "The CT660 is a natural expansion of our product line and a perfect complement to other Cat equipment. Its introduction today is a direct result of our commitment to continuously develop new products that accelerate the business success of our customers."
The Cat Vocational Truck line will be sold and serviced exclusively through the Cat North American Dealer network, with production beginning after CONEXPO for customer delivery later this year. The Class 8 vocational trucks will offer custom solutions, including many different body types like dump, refuse, hauler and mixer, for a large variety of job applications.
"Our goal was to design and manufacture the ideal truck, the truck that customers have always wanted for their specific vocational application," said George Taylor, Director and General Manager of the Cat Global On-Highway Group, who leads the design, development and launch of the trucks. "So our design team paid extremely close attention to all of the customer input we gathered. Frankly, the team was inspired by the input and focused on making it a reality."
The company spent hundreds of hours gathering input from customers, including vocational truck owners, fleet managers and drivers, to find out what they needed in their vocational trucks.
"As a result, we're proud Caterpillar will deliver a new line of vocational trucks that our customers said they want and need; trucks that are built with the ideal specs and options for customers to choose from to create customized trucks that match their specific applications and work environments. And from the feedback we're receiving today, I'd say we have more than accomplished our goal," Taylor added.
Cat dealers have been highly trained and are ready for bumper-to-bumper parts and service support of the CT660, as well as for sales support, including consulting with customers about financing, leasing and insurance options offered by Caterpillar. Dealers also know how different work applications and environments affect the truck specifications customers will need.
"Most importantly, the CT660 will definitely help accelerate the business success of our customers, and that's what it was designed to do," Taylor said. "In all honesty, I'm not surprised at the positive reactions because the CT660 is so different from anything else on the road."
For more information about the Cat CT660, customers should contact their local Cat Dealer or visit www.drivecat.com.
For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2010 sales and revenues of $42.588 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. These statements are subject to known and unknown factors that may cause Caterpillar's actual results to be different from those expressed or implied in the forward-looking statements. 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 Caterpillar does not undertake to update its forward-looking statements.
It is important to note that Caterpillar's actual results may differ materially from those described or implied in its 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 Caterpillar serves; (ii) government monetary or fiscal policies and government spending on infrastructure; (iii) commodity or component price increases and/or limited availability of raw materials and component products, including steel; (iv) Caterpillar's and its customers', dealers' and suppliers' ability to access and manage liquidity; (v) political and economic risks associated with our global operations, including changes in laws, regulations or government policies, currency restrictions, restrictions on repatriation of earnings, burdensome tariffs or quotas, national and international conflict, including terrorist acts and political and economic instability or civil unrest in the countries in which Caterpillar operates; (vi) Caterpillar's and Cat Financial's ability to maintain their respective credit ratings, material increases in either company's cost of borrowing or an inability of either company to access capital markets; (vii) 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) the possibility that the acquisition by Caterpillar of Bucyrus International, Inc. does not close for any reason, including, but not limited to, a failure to obtain required regulatory approvals; (x) international trade and investment policies, such as import quotas, capital controls or tariffs; (xi) the possibility that Caterpillar's introduction of Tier 4 emissions compliant machines and engines is not successful; (xii) market acceptance of Caterpillar's products and services; (xiii) effects of changes in the competitive environment, which may include decreased market share, lack of acceptance of price increases, and/or negative changes to our geographic and product mix of sales; (xiv) union disputes or other employee relations issues; (xv) Caterpillar's ability to successfully implement the Caterpillar Production System or other productivity initiatives; (xvi) adverse changes in sourcing practices of our dealers or original equipment manufacturers; (xvii) compliance costs associated with environmental laws and regulations; (xviii) alleged or actual violations of trade or anti-corruption laws and regulations; (xix) additional tax expense or exposure; (xx) currency fluctuations, particularly increases and decreases in the U.S. dollar against other currencies; (xxi) failure of Caterpillar or Cat Financial to comply with financial covenants in their respective credit facilities; (xxii) increased funding obligations under our pension plans; (xxiii) significant legal proceedings, claims, lawsuits or investigations; (xxiv) imposition of operational restrictions or compliance requirements if carbon emissions legislation and/or regulations are adopted; (xxv) changes in accounting standards or adoption of new accounting standards; (xxvi) adverse effects of natural disasters; and (xxvii) other factors described in more detail under "Item 1A. Risk Factors" in Part I of our Form 10-K filed with the SEC on February 22, 2011 for the year ended December 31, 2010. This filing is available on our website at www.caterpillar.com/secfilings.
SOURCE Caterpillar Inc.