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): November 3, 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 PRIMING FOR ENTRY INTO COMPACT MACHINE MARKET
Smaller machines aimed at this growing industry
- -----------------------------------------------------------------
Caterpillar Inc., the leading manufacturer of construction and
mining equipment worldwide, is preparing to enter the fast-growing
compact construction machine market in 1998.
"Caterpillar is focused on growth," said Donald V. Fites, chairman
and chief executive officer. "We are convinced these compact
construction machines can help bring growth to the company
and expand our customer base."
Caterpillar plans to unveil the first of its compact construction
machines, which are primarily used by individual contractors, early
next year in Europe. The first machines introduced will be compact
wheel loaders and mini hydraulic excavators.
During the last several years the $3.6 billion compact construction
machine industry has grown at more than 11 percent annually. This
initiative reflects growth in building construction, urban and suburban
renovation, and roadwork. These areas require machines that are easy
to use, can perform a variety of tasks, are easy to transport and
maneuver in tight areas.
Other equipment the company plans to manufacture are skid-steer
loaders and a wide range of work tools used with these smaller
machines. These will be introduced during the next 18 months.
The company plans to manufacture the lines of compact wheel loaders
and mini excavators at its facility near Leicester, U.K. It also
manufactures the mini excavators in Japan. The skid-steer loaders
will be manufactured in North Carolina.
"Our dealers and customers are anxious for these machines," said
Roger E. Fischbach, Caterpillar vice president with responsibility
for Building Construction Products Division. "It means more builders
and planners around the world can make use of Caterpillar's versatile
and productive machines."
Caterpillar is the world's leading manufacturer of construction and
mining equipment. To support this growth initiative, the company will
invest close to $100 million in product and service support development
and expanding its manufacturing facilities. Dealers are also investing
in this new business by establishing more rental outlets.
Headquartered in Peoria, Illinois, Caterpillar posted record sales
in 1996 of more than U.S. $16.5 billion. The company has reported
strong sales and revenues through the first three quarters of 1997 and
its outlook calls for its fourth consecutive year of record sales and
profit.
********************
Information included in this release is forward looking and involves
risks and uncertainties that could significantly impact expected results.
A discussion of these risks and uncertainties is contained in a Form 8-K
filed with the Securities & Exchange Commission on October 15, 1997.
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: November 3, 1997
