The alliance agreement follows Caterpillar’s formation of a strategic business unit, the Caterpillar Industrial & Waste Group. The group is part of the Diversified Products Division, led by Bill Springer, vice president of Caterpillar.
In support of the alliance agreement, Caterpillar acquired a minority equity interest in a new entity, Exodus Machines, LLC, formed by Exodus. Exodus is based in Superior, Wisconsin, and plans to expand manufacturing and is working to secure working capital and capital funding, developing plant layouts, assessing building sites and estimating needs for new employees.
For more information, visit cat.com or exodusmachinesinc.com.