Tuesday, July 20, 2010

Exxon (NYSE:XOM) Extends Lubricant Agreement with Caterpillar (NYSE:CAT)

Caterpillar (NYSE:CAT) and ExxonMobil Corp. (NYSE:XOM) announced they've come to a multyear agreement to extend the existing lubricant contract.

Exxon will continue to manufacture lubricants for dealers and factories of Caterpillar under the deal.

Caterpillar will continue to work with Exxon as their exclusive supplier, which includes 33 private-label lubricants. The products are used in final drives, hydraulics, engines and transmissions.

Exxon closed Monday's trading session at $58.43, a gain of $0.47, or 0.81 percent. Caterpillar closed at $64.80, gaining $0.86, or 1.35 percent.

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