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Press release from PR Newswire

Caterpillar Announces Expansion of Manufacturing Facility in Sumter, South Carolina; More Than 80 New Jobs Expected

Wednesday, March 14, 2012

Caterpillar Announces Expansion of Manufacturing Facility in Sumter, South Carolina; More Than 80 New Jobs Expected08:00 EDT Wednesday, March 14, 2012The expansion provides increased capacity to meet growing demand for Cat productsPEORIA, Ill., March 14, 2012 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) today announced plans to expand its manufacturing facility in Sumter, South Carolina, that will nearly triple the square footage. The facility currently produces small hydraulic cylinders used in a variety of Cat® products. The additional capacity will bring the production of large hydraulic cylinders from the company's Joliet, Illinois, facility to Sumter. Once the expansion is completed, the Sumter facility will be the primary source for small and large hydraulic cylinders for North and South America. The expansion in Sumter will allow the Joliet facility to focus on increasing production for other components currently produced in Joliet.   "This expansion is driven by growing demand for Cat products and will position our operations in both Sumter and Joliet to continue to grow and exceed customer needs as we drive toward Caterpillar's strategy and goals," said Hans Haefeli, Caterpillar vice president with responsibility for the Advanced Components and Systems Division.The $20 million expansion plan includes an additional 170,000 square feet, bringing the Sumter facility's total footprint to approximately 275,000 square feet once complete. When the expansion is fully operational and at full capacity, it is anticipated Caterpillar will add more than 80 jobs over a two-year period."It's always great to see one of our existing businesses decide to grow its presence in South Carolina. Caterpillar is a world-class company, and we celebrate their decision to further invest in our state and create more than 80 new jobs in Sumter County," said Gov. Nikki Haley.Work on the expansion will begin immediately and is scheduled to be completed by the fourth quarter of 2012. Hiring is expected to begin in the third quarter of 2012. Positions will be posted on the company's recruiting website (www.jointeamcaterpillar.com) as they become available. 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 StatementsCertain 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. Caterpillar's actual results may differ materially from those described or implied in our 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 we serve; (ii) government monetary or fiscal policies and infrastructure spending ; (iii) commodity or component price increases and/or limited availability of raw materials and component products, including steel; (iv) our and our customers', dealers' and suppliers' ability to access and manage liquidity; (v) political and economic risks and instability, including national or international conflicts and civil unrest; (vi) our and Cat Financial's ability to: maintain credit ratings, avoid material increases in borrowing costs, and access capital markets; (vii) the 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) international trade and investment policies; (x) challenges related to Tier 4 emissions compliance; (xi) market acceptance of our products and services; (xii) changes in the competitive environment, including market share, pricing and geographic and product mix of sales; (xiii) successful implementation of capacity expansion projects, cost reduction initiatives and efficiency or productivity initiatives, including the Caterpillar Production System; (xiv) sourcing practices of our dealers or original equipment manufacturers; (xv) compliance 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; (xix) our or Cat Financial's compliance with financial covenants; (xx) increased pension plan funding obligations; (xxi) union disputes or other employee relations issues; (xxii) significant legal proceedings, claims, lawsuits or investigations; (xxiii) compliance requirements imposed if carbon emissions legislation and/or regulations are adopted; (xxiv) changes in accounting standards; (xxv) failure or breach of IT security; (xxvi) adverse effects of natural disasters; and (xxvii) other factors described in more detail under "Item 1A.  Risk Factors" in our Form 10-K filed with the SEC on February 21, 2012 for the year ended December 31, 2011.  This filing is available on our website at www.caterpillar.com/secfilings.  SOURCE Caterpillar Inc.For further information: Bridget M. Young, Corporate Public Affairs of Caterpillar, +1-309-675-8463, young_bridget_m@cat.com