Caterpillar Industrial has sold its minority stake in CAT Lift Trucks, but the CAT branding is expected to be unchanged.
Caterpillar Industrial has sold its minority ownership in the well-known CAT forklift brand as part of a move that will also see Caterpillar dropped from its parent company’s trading name.
The minority ownership has been sold to Mitsubishi Caterpillar Forklift America, which will be renamed Mitsubishi Logisnext Americas (Houston) as of April.
While Caterpillar will no longer feature in the company’s official name, the CAT brand will still appear on the forklifts.
The Mitsubishi Logisnext group will continue to distribute the CAT forklifts around the world, including to Australia through United Forklift and Access Solutions.
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Caterpillar Industrial has sold its minority ownership in CAT forklifts.
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Another company subsidiary, UniCarriers Americas Corporation, will also change its name to Mitsubishi Logisnext Americas (Marengo) and in a statement, the company said the changes would provide unity and make its subsidiaries fully-owned by the group.
“The purpose of the MCFA and UCA trade name change is to create a sense of unity across the American business operation and to communicate to the market that they are a part of the Mitsubishi Logisnext group by adding the group’s name to theirs,” the statement read.