ThomasNet News Logo
Sign Up | Log In | ThomasNet Home | Promote Your Business

Caterpillar Outlines Aggressive Investment Plans for Analysts at CONEXPO-CON/AGG Trade Show

Print | 
Email |  Comment   Share  

(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)

Caterpillar
100 N.E. Adams St.
Peoria, IL, 61629
USA



Press release date: March 23, 2011

PEORIA, Ill., March 23, 2011 - Caterpillar Inc. (NYSE: CAT) Chairman and CEO Doug Oberhelman and members of the company's Executive Office updated analysts today on Caterpillar's significant long-term growth opportunities and investments being made around the world to position the company to satisfy growing demand from customers. The meeting with analysts and institutional investors took place at the CONEXPO-CON/AGG trade show in Las Vegas, Nevada, the international showcase for the construction industry. At the show, Caterpillar is displaying nearly 40 machines, a wide variety of work tools, technology solutions, engines and components comprising three different exhibits totaling 60,000 square feet.

With worldwide machine demand already near the prior peak less than two years after the bottom of the worst recession in decades, and with more growth expected in the coming years, Caterpillar is focused on ramping up production and adding capacity around the world while maintaining a sharp focus on controlling costs.

"With business continuing to improve around the globe, we're confident in our ability to deliver our 2012 goals and are focusing the company on our targets for 2015," said Caterpillar Chairman and CEO Doug Oberhelman.

Caterpillar also outlined its new organizational structure with Group Presidents Rich Lavin and Steve Wunning discussing the growth opportunities and investments in Caterpillar's machine businesses. Group President Gerard Vittecoq talked to analysts about growth and investment in the company's power systems business.

"By 2015, we will have made $5 billion in investments to increase production capacity at existing and new Caterpillar facilities to support customers in every region of the world, including plans to nearly triple machine capacity across our operations in Asia," said Oberhelman. "This is in addition to more than $10 billion in investments announced in 2010 for three significant acquisitions--Electro-Motive Diesel, Inc., Motoren-Werke Mannheim Holding GmbH (MWM) and Bucyrus International, Inc. Together, these moves represent Caterpillar's commitment to leadership in support of our growing base of customers and to expand our products and services," Oberhelman added.

At the meeting, Caterpillar's Group President and CFO Ed Rapp outlined the company's "portfolio management" approach to targeting investment opportunities.

"We're focusing our resources on the key industries that offer the best sales and profit growth potential over the long-term and that fit our strategic profile--in other words, great growth opportunities that fit well with the strengths of Caterpillar," Oberhelman said.

In 2010, Caterpillar updated the strategy and streamlined the organization to better serve customers, stockholders and employees.

"With the opportunities we see around the world, we have a very bright future," said Oberhelman. "We also have a strong financial position and a strategy that focuses on helping our customers win. Our employees and leaders are moving at full speed and are ready to go to achieve our 2015 targets."

About Caterpillar:

For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2010 sales and revenues of $42.588 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at: http://www.caterpillar.com.

SOURCE Caterpillar Inc.

CONTACT: Jim Dugan, Corporate Public Affairs, Office, +1-309-494-4100, Mobile, +1-309-360-7311, dugan_jim@cat.com

Web Site: http://www.caterpillar.com
Print | 
Email |  Comment   Share  
Contacts: View detailed contact information.


 

Post a comment about this story

Name:
E-mail:
(your e-mail address will not be posted)
Comment title:
Comment:
To submit comment, enter the security code shown below and press 'Post Comment'.
 



 More New Product News from this company:
Custom Vocational Trucks are built to application demands.
Vibratory Asphalt Compactor features split drums.
Asphalt Paving Machine features EPA-compliant, 142 hp C4.4 engine.
Natural Gas Generator Set targets mobile applications.
Gas Generator Set suits combined heat and power applications.
More ....
| Featured Manufacturing Jobs
 Other News from this company:
Caterpillar and Shaanxi Fast Gear Establish Joint Venture to Produce Machine Components and On-Highway Transmissions in China
Caterpillar Considering Strategic Options for Third Party Logistics Business
Caterpillar to Offer Audio Webcast of 2011 Analyst Meeting
Caterpillar to Showcase Product Innovation and Global Strength at CONEXPO/CON-AGG 2011
More ....
 Tools for you
Watch Company 
View Company Profile
Company web site
More news from this company
E-mail this story to a friend
Save Story


Home  |  My ThomasNet News®  |  Industry Market Trends®  |  Submit Release  |  Advertise  |  Contact News  |  About Us
Brought to you by Thomasnet.com        Browse ThomasNet Directory

Copyright © 2014 Thomas Publishing Company. All Rights Reserved.
Terms of Use - Privacy Policy



Error close

Please enter a valid email address