The opening ceremony for the stand took place prior to game, which Tigers won 22-17 against the world and Tri-Nations champions.
After the match, Owens said: “The Caterpillar Stand is an impressive addition to the stadium and will be a fantastic venue to host our customers and guests, to strengthen existing business relationships and build new ones.
"The Leicester Tigers share Caterpillar’s passion for excellence, teamwork and commitment, so our sponsorship was a good strategic fit.”
When Caterpillar Inc. announced its sponsorship of Leicester Tigers last year, the five-year deal included naming rights to the north stand. The Caterpillar Stand development is the first phase of a redevelopment plan and has increased the capacity of the Welford Road stadium to 24,000, making it the biggest dedicated club rugby stadium in the UK.
Owens added: “More than 50 years ago, Caterpillar established its UK presence in Leicestershire, and today we employ over 10,000 people in the UK. Our sponsorship of Leicester Tigers is an ideal platform to further support our business and community objectives.”
Leicester Tigers chairman Peter Tom CBE said: “It is fitting that the world champions are here for the official opening of the magnificent new Caterpillar Stand because the new facilities put us right up with the very best in rugby.
“The Caterpillar Stand is a landmark development for this club and for English rugby, and it is fantastic to see it full again this evening.
“We have forged an excellent relationship with our main sponsor Caterpillar and it is an honour to have so many of their representatives here this evening, particularly their Chairman. We look forward to continuing to host Caterpillar and their customers and sharing in each other’s success.”