IRVING,
Texas, Dec. 15, 2022 /PRNewswire/ -- Caterpillar
Inc. (NYSE: CAT) announced today a collaboration with Luck Stone,
the nation's largest family-owned and operated producer of crushed
stone, sand and gravel, to deploy Caterpillar's autonomous solution
to Luck Stone's Bull Run Plant in Chantilly, Virginia. This will be
Caterpillar's first autonomous deployment in the aggregates
industry and will expand the company's autonomous truck fleet to
include the 100-ton-class (90-tonne-class) Cat® 777.
Looking to accelerate autonomous solutions beyond mining,
Caterpillar will implement its existing Cat® MineStar™ Command for
Hauling system at the Bull Run quarry, on a fleet of 777G trucks.
This will allow Caterpillar to gain greater insights on quarry
operations in order to tailor the next generation of autonomous
solutions specific to quarry and aggregate applications. This
project supports the acceleration of autonomous technology for
operations with fewer mobile assets to allow a step change in
safety and productivity, as currently experienced at large mining
operations.
"Luck Stone and Caterpillar's partnership has been grounded in
shared values for many years," said Charlie
Luck, President and CEO of Luck Companies. "Together we
believe that safety, innovation and a commitment to people are
critical, not only to propelling important projects like this, but
to ensuring our focus on the future and all of the exciting
possibilities technology affords our industry. Our collaboration
will provide opportunities for associates to learn and grow,
improve safety and result in production efficiencies. We are
thrilled to partner with Caterpillar to achieve this 'first' for
our industry."
"Caterpillar has a long-standing relationship with Luck Stone,
and we look forward to working together to bring the demonstrated
benefits of increased safety and productivity to the quarry
industry. We're excited to get in the dirt and work alongside Luck
Stone's innovative team, so we can learn how to scale our already
proven mining solution for another industry," said Denise Johnson, Caterpillar Group President of
Resource Industries.
The current autonomy solutions will be implemented in 2024. This
project builds on Caterpillar's long history in autonomy and
automation. Caterpillar is recognized as the industry leader with
the world's largest fleet of autonomous haul trucks, now numbering
more than 560 trucks. These trucks have traveled more than 187
million kilometers and autonomously moved more than 5.1 billion
tonnes – most notably – all without a single zero lost-time
injury.
About Caterpillar
With 2021 sales and revenues
of $51.0 billion, Caterpillar Inc. is
the world's leading manufacturer of construction and mining
equipment, off-highway diesel and natural gas engines, industrial
gas turbines and diesel-electric locomotives. For nearly 100 years,
we've been helping customers build a better, more sustainable world
and are committed and contributing to a reduced-carbon future. Our
innovative products and services, backed by our global dealer
network, provide exceptional value that helps customers succeed.
Caterpillar does business on every continent, principally operating
through three primary segments – Construction Industries, Resource
Industries and Energy & Transportation – and providing
financing and related services through our Financial Products
segment. Visit us at caterpillar.com or join the
conversation on our social media channels.
About Luck Stone
Through three generations of
family leadership, Luck Stone has been building strong communities
for 100 years. Luck Stone, a division of Luck Companies, is the
nation's largest family-owned and operated producer of crushed
stone, sand and gravel. A responsive and creative partner to the
construction, civil engineering and environmental industries, Luck
Stone provides consistent, quality aggregate materials and services
that serve as the foundation of roads, bridges and
buildings.
Driven by our values of Integrity, Commitment, Leadership and
Creativity, we believe in providing our associates with the tools
and support to perform and lead at their best so they can ignite
the potential in themselves and others. Our company is a community
of people, utilizing the power of values and customer inspired
relationships to redefine what's possible for an industry and make
a positive and enduring impact. With 29 operating locations and
over 900 associates, Luck Companies is headquartered in
Richmond, Virginia, where it was
founded by Charles Luck Jr. in 1923.
Charlie Luck IV leads the company
today.
Forward-Looking Statements
Certain statements in
this press release relate to future events and expectations and are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Words such as "believe,"
"estimate," "will be," "will," "would," "expect," "anticipate,"
"plan," "forecast," "target," "guide," "project," "intend,"
"could," "should" or other similar words or expressions often
identify forward-looking statements. All statements other than
statements of historical fact are forward-looking statements,
including, without limitation, statements regarding our outlook,
projections, forecasts or trend descriptions. These statements do
not guarantee future performance and speak only as of the date they
are made, and we do not undertake to update our forward-looking
statements.
Caterpillar's actual results may differ materially from those
described or implied in our forward-looking statements based on a
number of factors, including, but not limited to: (i) global and
regional economic conditions and economic conditions in the
industries we serve; (ii) commodity price changes, material price
increases, fluctuations in demand for our products or significant
shortages of material; (iii) government monetary or fiscal
policies; (iv) political and economic risks, commercial instability
and events beyond our control in the countries in which we operate;
(v) international trade policies and their impact on demand for our
products and our competitive position, including the imposition of
new tariffs or changes in existing tariff rates; (vi) our ability
to develop, produce and market quality products that meet our
customers' needs; (vii) the impact of the highly competitive
environment in which we operate on our sales and pricing; (viii)
information technology security threats and computer crime; (ix)
inventory management decisions and sourcing practices of our
dealers and our OEM customers; (x) a failure to realize, or a delay
in realizing, all of the anticipated benefits of our acquisitions,
joint ventures or divestitures; (xi) union disputes or other
employee relations issues; (xii) adverse effects of unexpected
events; (xiii) disruptions or volatility in global financial
markets limiting our sources of liquidity or the liquidity of our
customers, dealers and suppliers; (xiv) failure to maintain our
credit ratings and potential resulting increases to our cost of
borrowing and adverse effects on our cost of funds, liquidity,
competitive position and access to capital markets; (xv) our
Financial Products segment's risks associated with the financial
services industry; (xvi) changes in interest rates or market
liquidity conditions; (xvii) an increase in delinquencies,
repossessions or net losses of Cat Financial's customers; (xviii)
currency fluctuations; (xix) our or Cat Financial's compliance with
financial and other restrictive covenants in debt agreements; (xx)
increased pension plan funding obligations; (xxi) alleged or actual
violations of trade or anti-corruption laws and regulations; (xxii)
additional tax expense or exposure, including the impact of U.S.
tax reform; (xxiii) significant legal proceedings, claims, lawsuits
or government investigations; (xxiv) new regulations or changes in
financial services regulations; (xxv) compliance with environmental
laws and regulations; (xxvi) the duration and geographic spread of,
business disruptions caused by, and the overall global economic
impact of, the COVID-19 pandemic; and (xxvii) other factors
described in more detail in Caterpillar's Forms 10-Q, 10-K and
other filings with the Securities and Exchange Commission.
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SOURCE Caterpillar Inc.