Gregory Poole set to acquire Pioneer Machinery
Published 10:42 am Thursday, November 8, 2007
Caterpillar to assign Pioneer ownership to six distributors
By CHRISTINA HALE
Caterpillar Inc. announced this week that six of its machinery dealers, including Gregory Poole Equipment Company, have agreed to acquire assets of Pioneer Machinery Inc., a full-service logging and recycling equipment company.
Gregory Poole has a branch in Washington.
Caterpillar spokesman Jim Dugan said Pioneer was privately owned until Caterpillar purchased it in 2001. The company’s assets are currently owned by Caterpillar and its six dealers: Blanchard Machinery, Carolina Cat, Carter Machinery Co., Gregory Poole Equipment Co., Ring Power Corp. and Yancey Brothers Co. Poole has an operation in Washington.
Once the changeover is complete, customers will benefit from a single source for their equipment needs, Dugan said.
Pioneer sells and services logging and recycling equipment including skidders, fellerbunchers, knuckleboom loaders, delimbers, slashers, chippers, log trailers, grinders, crushers, screens and site-prep tractors, according to its corporate Web site. In addition to distributing CAT forestry products, Pioneer is an authorized distributor of Prentice, CTR, Peterson Pacific and Construction Equipment Co. items.
Carl Tinkham, marketing manager for Gregory Poole headquarters in Raleigh, said customers working at a logging operation will need specialized logging equipment and, possibly, construction equipment, too.
Gregory Poole sells construction and power equipment.
Pioneer Machinery has three locations in the state, including one in Greenville. Tinkham said it is too early to know if those locations would close.
Dugan said changes will not be immediate as the changeover agreement is pending.
With 2006 sales and revenues of $41.517 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines, according to a written statement from the company.
Dugan said Caterpillar is in the manufacturing business, not distribution.
Along with the Pioneer transaction, Caterpillar is expanding its manufacturing operations by acquiring Blount International’s forestry division. It will acquire two Blount manufacturing facilities. Since 2003, Caterpillar and Blount have had an agreement to jointly produce and market products globally under the CAT and former Timberking brands.
In 2006, Caterpillar permitted Blount to replace the Timberking brand of forestry products with the Caterpillar and CAT brands.