April 15, 2019
Global Government & Corporate Affairs
FOR IMMEDIATE RELEASE
Caterpillar Signs Agreement to Sell Its Purpose-Built Forestry Business
LaGrange, Ga. – Caterpillar Inc. (NYSE: CAT) today announced it has entered into a definitive agreement with Weiler Forestry, Inc. to sell Caterpillar’s purpose-built forestry business. The closing is expected to occur in the third quarter of 2019. This agreement follows the preliminary agreement between the two companies, which was previously announced on August 29, 2018.
“We remain committed to supporting our forestry customers and the forestry industry,” said Ramin Younessi, Caterpillar Construction Industries Group President. “Caterpillar and our dealers have an established relationship with Weiler that spans many years. The process of developing this binding agreement has further enhanced our confidence in Weiler’s ability to deliver purpose-built forestry machines, while Caterpillar continues to offer forestry excavators and other core equipment, allowing the dealers to provide a complete product portfolio and the optimal solution for forestry customers.”
The sale of the purpose-built forestry business enables Caterpillar to further align its resources to deliver products that meet customer needs across a broad variety of applications. The company will continue to provide forestry excavators designed for log loading, processing and other forestry applications, in addition to supplying core Caterpillar equipment to the forestry industry.
With this agreement, Weiler will acquire Caterpillar’s purpose-built forestry product line consisting of wheel skidders, track feller bunchers, wheel feller bunchers and knuckleboom
loaders, and operations facilities in LaGrange, Georgia; Auburn, Alabama; and Smithfield, North Carolina.
Founded in 2000, Weiler currently produces an extensive portfolio of products and has a long-standing history of successfully manufacturing purpose-built equipment distributed through the Cat dealer network. Upon the closing of the sale, Weiler Forestry will design and manufacture purpose-built forestry products, which will continue to be available through the Cat dealer network, providing customers with the same outstanding sales and service support they’ve come to expect.
“We are very excited to add Weiler-branded purpose-built forestry equipment to our product portfolio,” said Pat Weiler, owner and founder of Weiler, Inc. “Since the initial announcement, I’ve met with numerous Cat dealers and forestry customers. The response has been overwhelmingly positive and provided us with valuable feedback as we make plans to expand the existing forestry product line. We are eager to complete the acquisition and get to work.”
Caterpillar and Weiler are working closely with Cat dealers to best support customers during this transition to ensure product availability and support services.
For more than 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2018 sales and revenues of $54.722 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 principally operates through its three primary segments - Construction Industries, Resource Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media.