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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
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FORM
8-K
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Current
Report
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Pursuant
to
Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date
of
Report (Date of earliest event reported):
August 24, 2006
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CATERPILLAR
INC.
(Exact
name
of registrant as specified in its charter)
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Delaware
(State
or
other jurisdiction of incorporation)
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1-768
(Commission
File Number)
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37-0602744
(IRS
Employer
Identification No.)
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100
NE Adams Street, Peoria, Illinois
(Address
of
principal executive offices)
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61629
(Zip
Code)
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Registrant's
telephone number, including area code:
(309) 675-1000
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Former
name
or former address, if changed since last report: N/A
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the
following
provisions:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
230.425)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Item
8.01.
Other Events
The
following
statement was released by Caterpillar Inc. on August 24, 2006.
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*
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* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
* * * *
*
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FOR
IMMEDIATE RELEASE
August
24,
2006
Caterpillar
And Navistar International Announce Settlement of Various Lawsuits
Other
new agreements include long-term supply for engines, fuel systems and
remanufacturing services
PEORIA,
Ill. -
Caterpillar Inc. (NYSE: CAT) announced today settlement of various lawsuits
with
Navistar International Corporation (NYSE: NAV), one of the leading heavy-duty
truck producers in the United States and the parent company of International
Truck and Engine Corporation. Caterpillar and Navistar are building on their
long-standing business relationship by signing a series of licensing and
long-term supply agreements that are expected to increase business opportunities
for both companies.
“Navistar
is a very
important customer to Caterpillar, and I’m pleased we’re able to settle our
differences and move forward in a positive way,” said Caterpillar Chairman and
Chief Executive Officer Jim Owens. “This agreement provides a solid foundation
for a continued long-term business relationship that benefits us
both.”
Navistar
Chairman,
President and Chief Executive Officer Daniel Ustian said, “This agreement sets
in place the framework for further expansion of our long relationship with
Caterpillar. I am extremely pleased that we have been able to reach agreement
on
issues that were a distraction to both companies and can concentrate on working
together to continue to build a productive and prosperous
relationship.”
Long-term
supply
agreements have been established for Caterpillar on-highway truck engines,
fuel
injectors and remanufacturing services. As part of the agreement, Caterpillar
Remanufacturing will act as International’s lead global remanufacturing service
provider. Under this new relationship, the parties will examine and explore
opportunities to enhance the overall value of International’s remanufactured
products and services.
“This
opportunity
is a natural extension to the remanufacturing program that we offer today for
Cat branded truck engines,” said Steve Fisher, Caterpillar vice president with
responsibility for remanufacturing. “We look forward to the opportunity to
support International’s initiative to increase truck value by offering a
world-class remanufactured products program.”
“We
are pleased to
forge an alliance with Caterpillar Remanufacturing,” said Phyllis Cochran,
International vice president and general manager of the company’s parts
operations. “We will leverage Caterpillar’s product development capabilities to
accelerate introduction of reman products at lower cost and improved
quality.”
In
clearing the way
for the new agreements, Caterpillar and Navistar agreed on August 24, 2006,
to
settle all current and pending litigation between the two companies. As part
of
the litigation settlement, Caterpillar will receive an up-front cash payment
and
a three-year promissory note from Navistar. Based on Caterpillar’s current
receivable balances related to the Navistar litigation, the settlement will
result in an after-tax charge to Cat of approximately $50 million. Future
incremental benefits from this expanded relationship are expected to more than
offset the up-front loss. The third-quarter charge was not included in
Caterpillar’s 2006 outlook issued with the second-quarter 2006 release. The 2006
financial impact of this agreement will be included in the company’s 2006
outlook to be provided in the third-quarter 2006 release.
For
more than 80
years, Caterpillar Inc. has been making progress possible and driving positive
and sustainable change on every continent. With 2005 sales and revenues of
$36.339 billion, Caterpillar is the world’s leading manufacturer of construction
and mining equipment, diesel and natural gas engines and industrial gas
turbines. More information is available at http://www.CAT.com/.
Contact:
Rusty
Dunn
Corporate
Public
Affairs
Caterpillar
Inc.
309-675-4803
dunn_rusty@cat.com
SAFE
HARBOR
Certain
statements
in this release relate to future events and expectations and as such constitute
forward-looking statements involving known and unknown factors that may cause
actual results of Caterpillar Inc. to be different from those expressed or
implied in the forward-looking statements. In this context, words such as
“expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “will,” or
other similar words and phrases often identify forward-looking statements made
on behalf of Caterpillar. It is important to note that actual results of the
company may differ materially from those described or implied in such forward
looking statements based on a number of factors and uncertainties, including,
but not limited to, changes in economic conditions, currency exchange rates
or
political stability; market acceptance of the company’s products and services;
significant changes in the competitive environment; changes in law, regulations
and tax rates; and other general economic, business and financing conditions
and
factors described in more detail in the company’s filings with the Securities
and Exchange Commission, including the Quarterly Report on Form 10-Q filed
with
the Securities and Exchange Commission on August 2, 2006. We do not undertake
to
update our forward-looking statements.
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SIGNATURES
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Pursuant
to
the requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
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CATERPILLAR
INC.
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August
24,
2006
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By:
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/s/James
B. Buda
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James
B.
Buda
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Vice
President
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