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Caterpillar inks deal to work on power projects

September 29, 2011

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PEORIA, Ill.—Heavy equipment maker Caterpillar Inc. is joining with one of its major dealers and APR Energy plc to team up on large temporary power projects, focusing on emerging markets.

Financial terms for the five-year pact, announced Thursday, were not disclosed.

As part of the deal, Caterpillar will supply power-producing systems through Ring Power, a St. Augustine, Fla.-based dealer, to APR Energy, a Jacksonville, Fla.-based provider of temporary power systems. The companies will provide full service for the projects, from design to maintenance.

Ring Power also will provide APR Energy with application, engineering, sales and product support.

The agreement is designed to boost APR Energy's power systems sales. Meanwhile, the deal will boost Caterpillar's presence in the international power projects market, the companies said.

Shares of Peoria, Ill.-based Caterpillar rose $1.93, or 2.6 percent, in premarket trading.