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Caterpillar to Acquire Berg Propulsion, Significantly Expanding Customer Options for Advanced Marine Power Solutions - Caterpillar, Inc. has signed a definitive agreement to acquire Johan Walter Berg AB, including its core brand of Berg Propulsion, a leading manufacturer of mechanically and electrically driven propulsion systems and marine controls for ships - Caterpillar
Caterpillar to Acquire Berg Propulsion, Significantly Expanding Customer Options for Advanced Marine Power Solutions

 

PRZOOM - /newswire/ - Peoria, IL, United States, 2013/07/01 - Caterpillar, Inc. has signed a definitive agreement to acquire Johan Walter Berg AB, including its core brand of Berg Propulsion, a leading manufacturer of mechanically and electrically driven propulsion systems and marine controls for ships - Caterpillar. NYSE: CAT

   
 
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With the acquisition, Caterpillar will transition from selling only engines and generators to providing complete marine propulsion package systems.

Headquartered in Öckerö Islands, Sweden, Berg has designed and manufactured heavy-duty marine thrusters and controllable pitch propellers since 1929. Its proprietary systems are employed in maritime applications throughout the world that require precise maneuvering and positioning.

“Berg is one of the most highly regarded brands in the marine industry,” said Tom Frake, Caterpillar vice president with responsibility for the Marine and Petroleum Power Division. “Our team will now be able to provide worldwide Caterpillar support to marine operators for a complete, optimized propulsion package, including bow thrusters, gear boxes and shaft
alternators. In addition, Berg’s expertise, focus on maximizing customers’ uptime and minimizing operation cost aligns well with Caterpillar’s value proposition.”

Berg will become part of the Caterpillar Marine and Petroleum Power Division, which supplies diesel and natural gas engines for the generation, control and supply of mechanical and electric power for the marine and petroleum industries.

“This marks the beginning of an exciting new chapter in our company’s history and is a chance to become part of the strongest brands both Caterpillar and MaK in our industry,” said Håkan Svensson, Berg’s Chief Executive Officer. “Berg has proudly served the marine industry for 101 years, always striving to provide the best economical and environmentally sound customer solutions. We look forward to developing and providing an even greater portfolio of products and services for ship owners around the world.”

Berg’s thrusters, propellers and control systems will be rebranded as Caterpillar soon after the close of the deal, which is expected in the third quarter 2013, pending final regulatory approvals.

About Caterpillar
For more than 85 years, Caterpillar Inc. (caterpillar.com) has been making sustainable progress possible and driving positive change on every continent. With 2012 sales and revenues of $65.875 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services and Progress Rail Services.

About Berg
Berg Propulsion (bergpropulsion.com) is one of the world’s leading designers and producers of Controllable Pitch Propellers for the shipping industry. Our strength lies in exceptional functional and technical expertise coupled with extensive industry knowledge. We deliver fully customized main propellers, azimuth thrusters, transverse thrusters and manoeuvre systems, and 24-hour service. Berg Propulsion operates from state-of-the-art production facilities in Sweden and Singapore, with sales and marketing offices in China (Shanghai and Guangzhou), Turkey, Dubai, Singapore, Germany, Spain, Brazil, Italy, West Africa, India, South Korea and the Swedish west coast.

Caterpillar Europe contact:
Erik De Leye - Corporate Affairs
P: +32 2 550 3537 / M: + 32 475 691 799
E: De_Leye_Erik[.]cat.com.

Berg contact:
Christian Lundquist - Chief Marketing Officer
M: +46 768 290 893 - E: press[.]bergpropulsion.com.

 
 
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Caterpillar to Acquire Berg Propulsion, Significantly Expanding Customer Options for Advanced Marine Power Solutions

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Caterpillar | Berg Propulsion
Contact: Rachel Potts - CAT.com 
309-675-6892 / 309-573-3444 (mobile) potts_rachel_a[.]cat.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Caterpillar, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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