Caterpillar Inc. and Pape Bros. Inc. have announced an agreement in principle that will transfer ownership of assets from the Eugene, OR-based company and its affiliates to Caterpillar Inc.

Pape Bros. Inc. will continue to serve as the Caterpillar dealer for southern Oregon until the transaction is finalized.

In conjunction with the agreement in principle, Caterpillar announced intentions to sell Pape assets and grant territory rights to an existing Caterpillar dealer to be named later.

For more than 75 years, Caterpillar Inc. has been building the world’s infrastructure and, in partnership with its worldwide dealer network, is driving positive and sustainable change on every continent.

Pape Bros. Inc. provides sales, parts, service and support for Caterpillar equipment for the forestry, construction, mining, wood-products, transportation, and power-generation industries in southern Oregon and northern California. The company has six store locations in Eugene, Albany/Tangent, Coos Bay, Klamath Falls, Medford, and Redmond, OR. Pape Bros. is a member of The Pape Group of companies.

For more information, visit www.cat.com or www.pape.com.

Today's top stories

New Bridges Part of Iowa's $114M Madison Avenue Project

Eagle Bridge Co. Works On Final Leg of U.S. 35 Upgrade

Fay Preps Way for Pittsburgh International Airport Modernization Project

SAKAI Achieves Record Sales, Production

Takeuchi Recognizes Top Dealers at 2024 Dealer Summit

Tennessee's Pugmill Systems LLC Expands Its Product Offerings to Include Concrete Plants

ASCENDUM Machinery Opens New Savannah, Ga., Facility

FEMA Repaying Vermont $22M for Cleanup Costs Due to July 2023 Floods