Caterpillar Celebrates Grand Opening of New Hydraulic Excavator Facility in Victoria, Texas

The new factory is the most recent expansion for Caterpillar in the United States and is expected to employ about 800 people once it is fully operational

PEORIA, Ill., Aug. 23, 2012 — /PRNewswire/ — Executives from Caterpillar Inc. (NYSE: CAT) and leaders from the state of Texas celebrated the grand opening of Caterpillar’s state-of-the-art hydraulic excavator facility in Victoria, Texas.  The new, 1.1 million-square-foot operation represents a $200 million investment by Caterpillar to increase excavator capacity and production in the United States.  The company has already hired about 225 new employees in Victoria, and plans to continue hiring based on demand for products made in Victoria and as it ramps up production with additional models to be produced at the new facility.

(Photo: http://photos.prnewswire.com/prnh/20120823/CG60568)

“This new facility in Victoria will help us better serve our customers in North America, and I am thrilled to have the opportunity to meet some of our newest employees and to see first hand a factory that I am sure will be among the very best we have anywhere in the world,” said Caterpillar Chairman and CEO Doug Oberhelman.

Prior to taking part in the grand opening ceremony, Oberhelman toured the new facility with leaders from Caterpillar’s Excavation Division and with Texas Governor Rick Perry.

“Caterpillar’s ongoing investment in the Lone Star State is proof positive that the low taxes, reasonable regulations, fair courts and skilled workforce we’ve worked hard to foster continue to attract world-class employers to create jobs and opportunity here in Texas,” Gov. Perry said. “We’re proud to welcome this new facility and the hundreds of jobs it supports to Victoria, and wish Caterpillar continued success.”

When operating at full capacity, the new Victoria facility will more than triple the current capacity of hydraulic excavators produced by the company in the United States. The excavators to be produced in Victoria are now made at a Caterpillar facility in Aurora, Illinois, and at a Caterpillar facility in Akashi, Japan. Expanding capacity in the United States at the new Victoria location will position Caterpillar to better serve North American excavator customers with a single, dedicated facility. In addition, the Caterpillar facility in Aurora will then focus on other products while the facility in Akashi will be more focused on serving customers in Asia.

About Caterpillar: 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.

Forward-Looking Statements 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.

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