Caterpillar To Build New Manufacturing Facility In China

Planned facility to produce world-class medium-size wheel loaders

PEORIA, Ill., July 24 /PRNewswire-FirstCall/ -- Caterpillar Inc. (NYSE: CAT) has signed an investment agreement with the Suzhou Industrial Park Administrative Committee (SIPAC) to build a new wheel loader manufacturing facility in the Suzhou Industrial Park in China's Jiangsu province. The new production facility will be wholly owned and operated by Caterpillar.

"This facility will add to Caterpillar's growing operations in China and provide the primary manufacturing source for Caterpillar wheel loaders in the Asia Theater," said Rich Lavin, vice president of operations for Caterpillar's Asia Pacific Division. "I would like to thank SIPAC for its support as we have worked to choose the best location for this new facility. This site offers Caterpillar a business-friendly environment with excellent access to port and ground transportation facilities, established suppliers and great people."

The proposed facility will be located on 57 acres of land in the Suzhou Industrial Park. Caterpillar intends to begin construction of the 350,000- square-foot building in early 2007 pending appropriate governmental approvals.

"The plan to build this wheel loader manufacturing facility in Suzhou further demonstrates Caterpillar's commitment to the continued expansion of our business in China in support of our overall enterprise strategy while continuing to provide our customers with the world-class products and product support that has made Caterpillar the global leader around the world," said Stu Levenick, Caterpillar group president with responsibility for Asia.

The wheel loader facility in Suzhou is the most recent example of Caterpillar's expanding manufacturing presence in China. Caterpillar core products manufactured in China include: hydraulic excavators, track-type tractors, motor graders and paving products, large diesel engines used primarily for marine and power generation applications and generator sets for use in China and the Asia Pacific region. Caterpillar also manufactures components at several facilities in China. In addition, Caterpillar holds a minority stake in Shandong SEM Machinery Co., Ltd. (SEM), one of China's leading wheel loader manufacturers.

In total, Caterpillar operates 13 China-based facilities -- both joint venture and wholly owned businesses -- which, together with its network of independent Caterpillar dealers, offer customers in China the best-in-class products, services and support that have made Caterpillar a global leader.

Caterpillar has a long history in China. The company sold its first products there in 1975 and opened an office in Beijing in 1978. Beijing is home to Caterpillar's marketing headquarters for China, and it is also the headquarters for Cat China Financial Leasing.

In the 1980s, Caterpillar launched technology transfer agreements with Chinese manufacturers who began building Caterpillar licensed products. Caterpillar's expansion in China accelerated in the early 1990s with the establishment of a more significant local production strategy.

For more than 80 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2005 sales and revenues of $36.339 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. More information is available at http://www.CAT.com/ .

SAFE HARBOR

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 "expects," "anticipates," "intends," "plans," "believes," "seeks," "will" 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 rates or political stability; market acceptance of the company's products and services; significant changes in the competitive environment; 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 filings with the Securities and Exchange Commission, including the financial release filed on Form 8-K with the Securities and Exchange Commission on July 21, 2006. We do not undertake to update our forward-looking statements.

Web site: http://www.CAT.com/


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