ExxonMobil says it has extended a multiyear agreement to supply Caterpillar with lubricants
By APMonday, July 19, 2010
ExxonMobil, Caterpillar extend supply agreement
FAIRFAX, Va. — ExxonMobil Corp. said Monday it has signed a multiyear agreement to manufacture lubricants for Caterpillar Inc. factories and dealers.
Under terms of the pact, ExxonMobil will continue to be the exclusive supplier of 33 private-label lubricants that are used in Caterpillar engines, transmissions, hydraulics and final drives.
The two companies, which first formed a business partnership in 1987, also are working on new lubricant technologies to help cut emissions.
Shares of ExxonMobil rose 41 cents to $58.37 and Caterpillar rose 70 cents to $64.64 in afternoon trading Monday.
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