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Cat Reman Reaches Commercial Agreement With Weir Minerals-North America

Cat Reman's tailored engineering solutions help reduce customer downtime and drive productivity

Published 05-25-11

Submitted by Caterpillar

/PRNewswire/ - The Caterpillar Reman Drivetrain Limited (CRDL) facility located in Fargo, North Dakota, has reached a commercial agreement with Weir Minerals-North America (Weir Minerals) of Madison, Wisconsin, to provide tailored engineering solutions to increase the life of Weir Minerals' total product line of industrial pumps and components. By extending the lifecycle of products, Cat Reman provides sustainable benefits to both the environment and the economy.

"We are thrilled to be partnering with Weir Minerals as it allows us to further extend the benefits of our engineering solutions in a way that will increase the life of Weir components for their customers in the field," said Greg Folley, Caterpillar Vice President of the Reman & Components Division. "Having significant market share of these style pumps in North America, Weir Minerals will represent a very large portion of new business for Cat Reman."

The slurry pumps manufactured by Weir Minerals are typically used with harsh materials in mining, minerals processing, chemical and other industrial applications. Slurry is a fluid mixture that contains particulate solids suspended in water.

"Weir Minerals-North America is pleased to partner with Cat Reman to utilize technologies that enhance the performance of our products to our customers," said Gary Leander, Vice President of Technology, Weir Minerals-North America.

As part of the agreement, CRDL will initially apply their technical solution to the internal liner components of the slurry pumps. The first applications provided are in some of the oil sands operations in Fort McMurray, Alberta, Canada. Initial testing has shown that by applying CRDL's new technology solutions, the wear lives of some components were doubled in a particular model of Weir Minerals' slurry pump. The long-term goal is to be able to further double that extended wear life.

"An hour of downtime can cost Weir Minerals' customers more than $100,000 in lost productivity," said Folley. "Throughout Caterpillar, we pride ourselves in producing state-of-the-art technology that enables the customer to operate more efficiently, on-time and on-budget. It's simple - when the customer wins, we win."

About Caterpillar:
For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2010 sales and revenues of $42.588 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: www.caterpillar.com.

About Weir Minerals (Source: www.weirminerals.com):
Weir Minerals are specialists in delivering and supporting slurry equipment solutions including pumps, hydrocyclones, valves, screen machines and screen media, rubber and wear resistant linings for global mining and mineral processing, the power sector and general industry. Our products strength lies in the superiority of our hydraulic designs and wear and corrosion and abrasion resistant materials. In slurry pumping, processing and control applications where the cost of ownership often outweighs capital cost as a priority, we help our customers address such issues as longevity, capacity, efficiency of operation, and maintenance. We are there for you and your operation, every step of the way providing Expertise where it counts℠.

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. These statements are subject to known and unknown factors that may cause Caterpillar's actual results to be different from those expressed or implied in the forward-looking statements. 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 Caterpillar does not undertake to update its forward-looking statements.

It is important to note that Caterpillar's actual results may differ materially from those described or implied in its forward-looking statements based on a number of factors, including, but not limited to: (i) global economic conditions and economic conditions in the industries and markets Caterpillar serves; (ii) government monetary or fiscal policies and government spending on infrastructure; (iii) commodity or component price increases and/or limited availability of raw materials and component products, including steel; (iv) Caterpillar's and its customers', dealers' and suppliers' ability to access and manage liquidity; (v) political and economic risks associated with our global operations, including changes in laws, regulations or government policies, currency restrictions, restrictions on repatriation of earnings, burdensome tariffs or quotas, national and international conflict, including terrorist acts and political and economic instability or civil unrest in the countries in which Caterpillar operates; (vi) Caterpillar's and Cat Financial's ability to maintain their respective credit ratings, material increases in either company's cost of borrowing or an inability of either company to access capital markets; (vii) financial condition and credit worthiness of Cat Financial's customers; (viii) inability to realize expected benefits from acquisitions and divestitures, including the acquisition of Bucyrus International, Inc.; (ix) the possibility that the acquisition by Caterpillar of Bucyrus International, Inc. does not close for any reason, including, but not limited to, a failure to obtain required regulatory approvals; (x) international trade and investment policies, such as import quotas, capital controls or tariffs; (xi) the possibility that Caterpillar's introduction of Tier 4 emissions compliant machines and engines is not successful; (xii) market acceptance of Caterpillar's products and services; (xi) effects of changes in the competitive environment, which may include decreased market share, lack of acceptance of price increases, and/or negative changes to our geographic and product mix of sales; (xii) union disputes or other employee relations issues; (xiii) Caterpillar's ability to successfully implement the Caterpillar Production System or other productivity initiatives; (xiv) adverse changes in sourcing practices of our dealers or original equipment manufacturers; (xv) compliance costs associated with environmental laws and regulations; (xvi) alleged or actual violations of trade or anti-corruption laws and regulations; (xvii) additional tax expense or exposure; (xviii) currency fluctuations, particularly increases and decreases in the U.S. dollar against other currencies; (xix) failure of Caterpillar or Cat Financial to comply with financial covenants in their respective credit facilities; (xx) increased funding obligations under our pension plans; (xxi) significant legal proceedings, claims, lawsuits or investigations; (xxii) imposition of operational restrictions or compliance requirements if carbon emissions legislation and/or regulations are adopted; (xxiii) changes in accounting standards or adoption of new accounting standards; (xxiv) adverse effects of natural disasters; and (xxv) other factors described in more detail under "Item 1A. Risk Factors" in Part I of our Form 10-K filed with the SEC on February 22, 2011 for the year ended December 31, 2010. This filing is available on our website at www.caterpillar.com/secfilings.

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Caterpillar

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 and Progress Rail Services. More information is available at: http://www.caterpillar.com.

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