Caterpillar Inc. (CAT) and Trimble Inc. (TRMB) announced on Wednesday the extension of their long-standing joint venture agreement. This renewed collaboration will encompass expanded grade control solutions and broadened distribution options within the construction sector, aiming to accelerate both innovation and customer adoption.
Since its inception in 2002, the Caterpillar Trimble Control Technologies (CTCT) joint venture has been a leader in providing grade control solutions, significantly enhancing jobsite safety and productivity.
The extended agreement is set to extend industry reach and offer customers a more extensive range of interoperable grade control solutions through a versatile platform. This platform will be utilized by Caterpillar, Trimble, and other technology providers and equipment manufacturers.
By strengthening their partnership, both Trimble and Caterpillar can enhance innovation and differentiation, develop new offerings, and explore novel industry and geographic opportunities.
