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CATERPILLAR SIGNS CONTRACT

 CATERPILLAR SIGNS CONTRACT
 PEORIA, Ill., Oct. 29 /PRNewswire/ -- Caterpillar (NYSE: CAT) has


signed a contract to supply 295 D9N track-type tractors along with parts and tools to Russia's leading natural gas concern, GAZPROM.
 The machines will be produced by the Track-Type Tractor Business Unit (East Peoria), part of the Construction and Mining Products Division (CMP).
 The purchase of the Cat machines was arranged through Mitsui & Co., a Japan-based trading company. The Caterpillar contract is part of a larger machine purchase for GAZPROM being handled by a consortium of trading and industrial concerns including Mitsui.
 The Russian company's purchase of Cat equipment will be financed by a direct loan to GAZPROM of about $100 million from the Export-Import Bank of the United States (USExIm). USExIm has given preliminary approval to the loan, with final action expected before the end of this year. Caterpillar Group President Glen A. Barton said the USExIm loan was crucial to the sale:
 "We faced some stiff competition on this deal from Komatsu, who had arranged financing for GAZPROM through the Japanese government. ExIm's aggressive support helped us secure the contract."
 Barton said the sale is important because of the volume of machines ordered and because it gives Caterpillar an opportunity to develop a solid working relationship with this important Russian customer.
 "The order comes at a time when demand for construction and mining machinery continues to be soft as a result of worldwide economic conditions, so it is welcome news." Delivery is expected to take place during 1993 and 1994. No increase in employment is anticipated.
 According to GAZPROM, the concern is Russia's single largest exporting company and controls 40 percent of the world's natural gas production.
 -0- 10/29/92
 /CONTACT: Jeff Hawkinson of Caterpillar, 309-675-4715/
 (CAT) CO: Caterpillar Inc. ST: Illinois IN: MAC SU: CON


KD -- NY107 -- 6851 10/29/92 17:51 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Oct 29, 1992
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