Renewed agreement enhances grade control
solutions and expanded distribution options
IRVING,
Texas and WESTMINSTER, Colo., Oct. 2, 2024
/PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) and Trimble
(Nasdaq: TRMB) today announced the extension of their long-standing
joint venture. The agreement includes expanded distribution of
grade control solutions in the construction sector to accelerate
innovation and customer adoption.
Since 2002, the Caterpillar Trimble Control Technologies (CTCT)
joint venture has led the industry in grade control solutions,
delivering products that contribute to jobsite safety and
productivity.
The renewed agreement will increase industry reach and provide
customers broader availability of interoperable grade control
solutions via a flexible platform for use by Caterpillar, Trimble
and other technology providers and equipment manufacturers. With a
strengthened partnership, this agreement enables both Trimble and
Caterpillar to increase innovation and differentiation, develop new
offerings and pursue new industry and geographic opportunities.
For Caterpillar customers, there are more ways to access the
technology:
- Factory-fit grade options through Caterpillar
- Cat® Grade 3D Ready options allow upgrading at any point within
the machine lifecycle
- Expanded aftermarket and digital offerings directly through Cat
dealers
Trimble customers also benefit from broader availability:
- Continued mixed-fleet support from trusted SITECH® dealers
- Expanded distribution network to reach and meet the needs of
mixed fleet customers
- Streamlined access to grade control through Trimble
Construction One™ suite of digital solutions further extends
Trimble's construction technology ecosystem
"Trimble's Connect & Scale strategy has created an ecosystem
that empowers customers across both the physical and digital
worlds. The next phase of our joint venture will drive innovation
in grade control technology to expand the industry opportunity with
localized and differentiated solutions while improving technology
interoperability," said Rob Painter,
president and CEO of Trimble. "This partnership underscores a joint
commitment to connect the office and the field throughout the
design-build-operate lifecycle of construction projects."
"Caterpillar and Trimble have a long history of innovating
together," said Tony Fassino,
Caterpillar Construction Industries group president. "We are proud
of what we've developed to help customers optimize their
operations, including grade control. Today's announcement is a
continuation of this collaboration. With a focus on accelerating
this leading-edge technology, we are committed to making it easier
for customers to acquire and adopt our solutions across Cat and
mixed fleets alike."
About Caterpillar
With 2023 sales and revenues of
$67.1 billion, Caterpillar Inc. is
the world's leading manufacturer of construction and mining
equipment, off-highway diesel and natural gas engines, industrial
gas turbines and diesel-electric locomotives. For nearly 100 years,
we've been helping customers build a better, more sustainable world
and are committed and contributing to a reduced-carbon future. Our
innovative products and services, backed by our global dealer
network, provide exceptional value that helps customers succeed.
Caterpillar does business on every continent, principally operating
through three primary segments – Construction Industries, Resource
Industries and Energy & Transportation – and providing
financing and related services through our Financial Products
segment. Visit us at caterpillar.com or join the
conversation on our social media channels
at caterpillar.com/en/news/social-media.html.
About Trimble
Trimble is transforming the ways people
move, build and live. Core technologies in positioning, modeling
and data analytics connect the digital and physical worlds to
improve our customers' productivity, quality, safety, transparency
and sustainability. For more information about Trimble (Nasdaq:
TRMB), visit: www.trimble.com.
Safe Harbor
Certain statements made in this press release, including statements
regarding expectations about the pace of innovation in grade
control technology, expanded distribution and industry
opportunities, and customer adoption of grade control solutions,
are forward-looking statements within the meaning of Section 21E of
the Securities Exchange Act of 1934 and are made pursuant to the
safe harbor provisions of the Securities Litigation Reform Act of
1995. These statements are subject to change, and actual results
may materially differ due to certain risks and uncertainties,
including risks and uncertainties regarding the parties' ability to
achieve the expected benefits of the joint venture, to realize new
innovations, to effectively expand distribution and industry
opportunities, and to achieve further customer adoption of
solutions. The statements made in this press release reflect
expectations as of the date of this release and there is no
undertaking to provide updates or revisions to reflect any change
in such expectations or to reflect any change of events,
conditions, or circumstances on which the statements are based.
FTRMB
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SOURCE Trimble