Caterpillar Inc. will begin offering a line of mining shovels starting in 2011, as the construction equipment manufacturer looks to increase its presence in an expanding global mining industry.
The company's new shovel line will range from a 125-ton model through an 800-ton shovel. The shovels will be produced at Caterpillar's Aurora, Ill., plant near Chicago. The company expects the 125-ton shovel to be available by late 2011 with the larger models to follow in 2013 and 2014.
Peoria, Ill.,-based Caterpillar also intends to boost production of heavy-haul mining trucks at assembly plants in Decatur, Ill., and Chennai, India.
"As we discussed solutions with our global mining customers, it's clear that they want a complete line of Caterpillar shovels to best match Caterpillar trucks operating at their mines," said Chris Curfman, president for the company's global mining business, in a written statement.
Mining equipment has been a robust market for equipment manufacturers in recent years, as production of iron ore, copper, coal and other mined commodities accelerates in response to increased demand from developing countries, particularly China.
Caterpillar's stock was recently up 0.08% at $64.44.