Caterpillar to Produce Line of Electric Drive Mining Truck

In a move to further enhance its position as the world's leading manufacturer of mining and construction equipment, Caterpillar Inc. (NYSE: CAT) announced today that it will produce a Cat? line of AC electric drive mining trucks. Caterpillar views the addition of an AC electric drive truck line as an enhancement to providing customers with products to fit key applications.

"We are very proud of the strong leadership position that Caterpillar has attained with its mechanical drive trucks, and we'll continue to invest in strengthening that position," said Chris Curfman, president of Caterpillar's Global Mining division and Caterpillar Inc. vice president. "We also recognize that there are unique applications that would make the addition of AC electric drive an important and attractive complement to our current truck line. We are working with Caterpillar's product development teams to generate equipment solutions that meet our objective of providing our customers with the best choice of haul trucks for every mining application."

Gerry Shaheen, Caterpillar group president said, "This is the largest investment we've made in mining trucks in Caterpillar history and certainly demonstrates our commitment to maintaining a leadership position in the mining sector and serving the mining customer better than anyone in the industry."

Caterpillar was one of the first manufacturers to commercialize electric drive trucks in the late 1960s, but elected to focus on its design and development efforts on mechanical drive to best meet customers' needs. With recent advances in AC drive technology, coupled with proven components and technologies from existing Caterpillar products, the company concluded it was the appropriate time to make electric drive available to its customers as a complement to its highly successful mechanical drive.

According to Curfman, Caterpillar considered a variety of alternatives for adding electric drive mining trucks to the product offering. "In the end, it was clear that developing our own line-up is the best path to providing customers with a complete range of hauling equipment," he said.

Shaheen added, "Caterpillar's mechanical drive trucks are the standard in the industry and are favored in most applications. Some customers, however, prefer the electric drive truck for specific applications and situations. Because we strive to provide the best value to our customers, adding electric drive to our line-up will enable Caterpillar to offer an additional solution to match customer needs."