Cat In Material Handling Alliance
Caterpillar announced that it has executed an alliance agreement with Exodus Machines Inc. for the design and supply of material handlers to be sold and supported exclusively by Cat dealers. The Exodus machines will be available immediately in North America and will complement Caterpillar’s current line of wheel and track material handlers greater than 25 metric tons. The machines will initially continue to carry the Exodus brand name but will transition to the Cat brand in 2013.
Exodus Machines, Superior, Wis., was incorporated three years ago, The company’s material handlers incorporate a cab that lowers to the ground for easy ingress and egress and maintenance access. The wheel machines also feature independent planetary wheel drive for all-wheel drive.
In support of the alliance agreement, Caterpillar acquired a minority equity interest in a new entity, Exodus Machines, LLC, formed by Exodus. In addition, Exodus plans to expand manufacturing in the Superior area and is working to secure working capital and capital funding, developing plant layouts, assessing building sites and estimating needs for new employees.
The agreement follows Caterpillar’s recent formation of a new strategic business unit, the Caterpillar Industrial & Waste Group, which has global responsibility for serving customers in these markets.