SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 17, 1997
CATERPILLAR INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
1-768
(Commission File Number)
37-0602744
(IRS Employer I.D. No.)
100 NE Adams Street, Peoria, Illinois
(Address of principal executive offices)
61629
(Zip Code)
Registrant's telephone number, including area code: (309) 675-1000
Item 5. Other Events
Caterpillar Inc. and German-based Claas KGaA announced today they
have received all necessary approvals and will now form the North
American joint venture company Caterpillar Claas America LLC.
The joint venture company will market and eventually manufacture
several models of the Lexion line of combine harvesters. The
combines are designed to meet North American customer requirements
and will be distributed under the Caterpillar trademark.
"This demonstrates Caterpillar's strong commitment to the ag industry
and our desire to bring new technology to North American farmers,"
said Bob Strube, president of Caterpillar Agricultural Products Inc.
"It brings together two premier manufacturers with reputations for
innovation and market-leading specialization."
"The ag industry continues shifting toward larger farms that rely
on advanced technology for maximum productivity. Caterpillar and
Claas, with this joint venture, are ready to meet the North American
farmers' needs for technologically-advanced combines," Strube said.
"We are excited that North American farmers can now realize
the high productivity inherent with Lexion combines," said Theo
Freye, general manager of Caterpillar Claas America LLC. "This
alliance, and the exceptional strength of the Cat dealer organization,
will give farmers in North America the opportunity to experience a
new, higher level of quality and performance in their harvest cycle,"
said Freye, who has been with Claas for more than 17 years.
The Claas range of Lexion combines, introduced two years ago
in Europe, incorporates the latest in harvesting technology, including
automated machine controls and a patented threshing system. During
last year's harvest, the combines underwent extensive field testing
in North America, producing exceptional results.
Caterpillar introduced its first rubber-belted agricultural
tractor in 1987. Today, the Challenger tractor line includes six
models. In 1996, the company formed Caterpillar Agricultural
Products Inc. as a subsidiary to put a greater focus on the agricultural
market. This joint venture is further evidence of the company's goal
to be a leader in the agriculture equipment business.
Claas KGaA, based in Harsewinkel, Germany, is Europe's market leader
in combines and forage harvesters. It is also a leading manufacturer
of balers, grassland equipment and material handlers, with production
factories in Germany, France and England. Claas reported 1996 sales
of about U.S. $1 billion.
Caterpillar is the world's leading manufacturer of construction
and mining equipment, natural gas engines and industrial gas turbines.
It is also a leading global manufacturer of diesel engines.
Headquartered in Peoria, Ill., the company posted record sales in
1996 of U.S. $16.5 billion.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
CATERPILLAR INC.
By: /s/ R. Rennie Atterbury III
R. Rennie Atterbury III
Vice President
Date: July 17, 1997
