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Caterpillar weaves new deal Seafaring trailers II Caterpillar and DaimlerChrysler

7th December 2000
Page 16
Page 16, 7th December 2000 — Caterpillar weaves new deal Seafaring trailers II Caterpillar and DaimlerChrysler
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are forming a 50/50 global alliance to work on medium-duty engines, fuel systems rIcluding common rail, and other driveline components. These will be offered to third parties, as well as being used in the two companies' own products.

Caterpillar will still supply 10and 16-litre engines for the Freightliner market in the US, and both companies stress they will continue to develop heavy-duty engines for worldwide markets outside the alliance.

Exhaust aftertreatment development is part of the venture, however, along with combustion and materials technology and air handling systems.

DaimterChrysler expects sales volumes to grow rapidly from a $2bn base for the engine coalition, and predicts that fuel systems sales of $600m will triple to $1.8bn by 2005. Jurgen Schrempp, chairman and CEO of DaimlerChrysler, says: "This alliance will bring together legendary engineering capabilities and long traditions of manufacturing excellence, to benefit not only our customers but our employees and shareholders as well," Caterpillar president Richard Thompson says the collaboration will ensure success in an increasingly demanding marketplace. Plants involved in the deal include Caterpillar's Peterborough operation in the UK and sites in the US, Belgium. Brazil and Germany'.

• DaimlerChrysler is being sued by its third largest shareholder Kirk Kerkorian, who owns itrvo of the manufacturing giant. Kerkorian claims Daimler-Benz bosses were fraudulent in claiming the 1998 linkup with Chrysler was a merger of equals. He is seeking S9bn in compensation.


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