What is Caterpillar?
Caterpillar Inc. (CAT) is a world-famous American developer, designer and seller of various mining and construction products, including equipment, natural gas and diesel engines, diesel-electric locomotives and gas turbines. The company also markets and licenses its popular clothing and work-wear boots under its Cat brand. With $89 billion in assets, Caterpillar is a leader in its industry and a member of the Fortune 500 list.
What does the company do?
The world’s leading producer of mining and construction equipment, Caterpillar operates mainly through its three principal segments, including Resource Industries, Construction Industries, and Energy and Transportation business. Also, the company provides financial services through its Financial Products segment.
- Construction Industries. Caterpillar helps its customers build everything that the world needs.
- Resource Industries. The company allows for the harvesting and mining of resources, including iron ore, coal and lumber in the most sustainable and profitable way.
- Energy & Transportation. Caterpillar focuses on meeting the world’s increasing transportation and energy needs.
- Customer & Dealer support. The company puts a strong emphasis on customer services and delivering outstanding dealer development environment.
- Financial Products & Corporate Services. Caterpillar builds financially sound relationships with customers, suppliers and dealers.
A bit of Caterpillar’s history
Caterpillar was founded in 1925 as the result of the merger of the C.L. Best Tractor Company and the Holt Manufacturing Company. After a long period of legal battles from 1907 to 1918 in a number of lawsuits, the two companies agreed to join their efforts. The new entity was named Caterpillar Tractor Company. The Caterpillar consolidated its product lines, substantially growing the company’s sales. During the post-war period of active construction, Caterpillar grew at a high speed and expanded its business outside the US. It marked the beginning of Caterpillar’s growth as an international company.
Who founded Caterpillar?
- Benjamin Leroy Holt, an American businessman and inventor, who produced the first crawler-type tread tractor. Mr. Holt was the first who received the patent for the use of a continuous track with a tractor. Together with his brothers, Benjamin Holt established the Holt Manufacturing Company.
- Clarence Leo Best, often referred to as C.L. Best, founded the C.L. Best Tractor Company. In the mid 1920s the company experienced financial difficulties and eventually merged with Holt Manufacturing company, forming the Caterpillar Tractor Company. C.L. Best remained in the position of the chairman of the board of Caterpillar until he passed away in 1951.
Current size, team and locations
Headquartered in Deerfield, Illinois, US, Caterpillar operates in more than 500 locations worldwide, including R&D, manufacturing, marketing logistics and other facilities. Enjoying its global reach and presence, the company serves customers in over 180 countries with its portfolio of 300 products. Caterpillar’s team consists of 98,400 specialists.
Quick facts about Caterpillar
- Caterpillar has 171 dealers, serving 192 countries and 28,000 suppliers
- The company’s current portfolio consists of 21 brands
- 1.4 million construction machines are active globally
- >500 million tons have been safely moved with the company’s autonomous trucks
- Over 6 million tons of scrap metal was recycled through its remanufacturing and repair processes
- Caterpillar has approximately 550 thousand connected assets
- In 2017 the company earned $45,462 billion in sales and revenues.
- Caterpillar ranks 82th among the Forbes’ 100 most valuable brands in 2017, and 74th in Fortune’s 100 companies list.
How to learn the Caterpillar share price?
Caterpillar shares are traded on the New York Stock Exchange (NYSE) under the CAT ticker. CAT stock is featured in the Dow Jones, S&P 100 and S&P 500 market indices. Join Capital.com to trade CFDs on the Caterpillar share price fluctuations and follow the CAT chart in real-time.