Ring Power Partners With Cat to Form Pipeline Machinery

Wed March 30, 2005 - Southeast Edition

Ring Power Corporation Chairman and President Randal L. Ringhaver has announced the company is entering into a new partnership to form a global Cat dealership, Pipeline Machinery International (PLM), to serve the global pipeline construction industry.

Caterpillar Inc. made the decision to establish PLM after determining that Cat’s existing geography-based service model could be better structured to serve the needs of the pipeline customers through local dealerships. Customers specializing in large-diameter interstate and cross-country pipeline projects of limited duration tend to span over several dealer territories.

The formation of PLM will allow for a focused effort by a dedicated pipeline dealership that will be responsible for maintaining customer relationships, merchandising purpose-built Caterpillar pipeline products, and providing solution packaging to these unique global customers.

Ring Power Corporation was selected by Caterpillar Inc. to participate in the new PLM dealership as one of four Caterpillar dealers with extensive expertise in the pipeline market segment. Ring Power Corporation, two other U.S. Caterpillar dealers and one Canadian Caterpillar dealer will each have a 25-percent share in the new dealership.

Each dealer-partner will be responsible for providing these specialized customers with improved service levels. PLM will form a consolidated rental fleet of pipelayers, plus traditional Caterpillar products, initially comprised of current inventory from the four participating dealers.

Ringhaver further commented, “We have been a major player and supplier of pipeline equipment for many years, and this new partnership will allow us the opportunity to expand on our investment in this market segment at a global level.”

PLM, the global pipeline dealer, also will work with the local dealers to provide additional customer support services in the areas where pipeline projects are taking place, thus providing business opportunities for the local dealers as well.

Ring Power Corporation is central and north Florida’s Caterpillar dealer. Corporate office headquarters are located in Jacksonville with 14 full-service branches located throughout Florida.