Caterpillar Inc. Overview 

Caterpillar Inc. Overview 

Recognized as the world’s largest and biggest construction equipment manufacturer according to Statista, the North American-based corporation operating under the name, Caterpillar Inc., was founded on April 15th in the year 1925 which is approximately 97 years ago. Its apex office is located on the coast of Irving, Texas, United States. In its entirety, Caterpillar Inc. deals with the production and manufacturing of construction machinery used by several construction firms across the globe for the construction of roads, bridges, skyscrapers, buildings, et cetera. On September 29, 2022, a publication was released by Statista revealing the world’s largest construction machinery producer by sales in the year 2020, Caterpillar Inc., emerges as the #1 on the list with Komatsu, another construction manufacturer based in Japan ranking #2 on the list. It was recorded that in the year 2020 alone, Caterpillar Inc., sold construction machinery amounting to the tune of 24.8 Billion USD. In the year 2022, Fortune 500 ranked Caterpillar Inc., in the 73rd position, indicating the company as one of the largest corporations in the United States with a whopping USD 55 Billion in revenue generation. And in addition, the company is also ranked #44 among the world’s most admired companies. In this article, however, you will be shown a more detailed, comprehensive, and extensive review of Caterpillar Inc. The kickoff will begin with the company’s key facts and it will flow to all aspects of its operations, and dealings. As such, all relevant information detailing its key facts, historical background, its divisions, its financial overview, as well as its pros and cons will be concisely covered to enable you to understand the significant and major elements of the global manufacturing corporation as quickly as possible.       

Caterpillar Inc. Key Facts 

Founding Year: Caterpillar Inc., on April 15th in the year 1925 which is approximately 97 years ago.     

Industrial Ranking: Caterpillar Inc., is proud to be ranked #1 on the Statista list, taking down Komatsu of as the world’s largest and biggest construction machinery manufacturing company. Additionally, the corporation also ranks #73 on Fortune 500, indicating the company as one of the largest corporations with higher revenue in the United States. Moreover, the company is also ranked #44 world’s most admired companies. 

Company Type: A Public Corporation Company (PLC)     

Market Reach:  Caterpillar Inc., operates globally, and its offices are mounted strategically in several countries across the world.    

Industry Type: Manufacturing 

Trading Type:  Caterpillar Inc., is traded on the New York Stock Exchange (NYSE) market in two classes under the ticker symbols CAT. The company’s stock is a component of DJIA as well as the S&P 100 and S&P 500 respectively.   

Workforce Strength:  Caterpillar Inc., has a total number of 107, 700 employees in its workforce globally as of the 2021 report.     

Subsidiaries: Caterpillar Financial Services, Caterpillar Insurance Holdings, Caterpillar Marine Power System, FG Wilson, Caterpillar Logistics Services 

Caterpillar Inc. Historical Overview 

Founded in the year 1925, and headquartered in Irving, Texas, United States, Caterpillar Inc., came into being when C.L. Best Tractor Company was merged with Holt Manufacturing Company. Thus, part of the root of the company could be traced back to 1890 when the Holt Manufacturing Company was established. 

The two founders are skilled in separate fields – Holt was skilled in building tractors, while C.L. Best was skilled in manufacturing gasoline as well as under-carriage machinery, and up to this present age, the majority of his inventions form the components of today’s modern caterpillar tractors.   

In the year 1910, prior to the amalgamation of the two companies in 1925, the Holt Manufacturing Company launched a plant located in East Peoria, Illinois. The plant was managed by his nephew called Pliny Holt who bought the company in the year 1909 on October 25, after it was declared bankrupt and started operation with 12 employees. The company was later incorporated under the name, Holt Caterpillar Company, and the name was trademarked on August 12, 1910.  

In the year 1931, in a bid to avail customers with more power at a relatively low price, a significant investment was made in diesel technology by one of the founders, C.L. Best, and in October of that year, the company launched the sale of the Caterpillar Diesel Sixty Tractor. This giant stride made the company into becoming the largest manufacturer of diesel engines across the globe. In the same year, the company changed the colour of its machines from grey to a hi-way colour. 

In the year 1952, Caterpillar Inc. founded its community foundation tailored to foster environmental sustainability across all spheres. The foundation since its inception has been making a significant impact in the world by supporting and partnering with socially-oriented and humanitarian organizations such as Red Cross for as long as 70 years of the partnership deal.  

In the year 1958, the company opened a plant recorded as its first foreign office in the heart of Glasgow, Scotland. The plant deals with the manufacturing of Caterpillar spare parts in Europe.    

In the year 1967, Caterpillar Inc. launched a new worldwide apex-quarters. The tower is strategically mounted on the coast of Peoria, Illinois, United States. And in the year 1969, Caterpillar Inc. builds engines that lit up the Apollo 11 mission to the moon. 

In the year 1970, and for the first time in the company’s history, Caterpillar Inc., recorded sales generated offshore to be much greater than the ones generated in the United States. The year 1972 witnessed the introduction of the company’s first hydraulic excavator. And in the year 1977, the company introduces D10 Track-Type Tractor. 

In the year 1985, Caterpillar Inc. launched its first backhoe loader tagged with the name, 416. And in the same year, G.A Schafer emerges as the Board’s Chairman. 

In the year 2010, Caterpillar Inc., bought Electro Motive Diesel Inc., and in the year following, 2011, the company also bought Bucyrus International Inc., as well as MWM GmBH located in Germany. 

In the year 2020, the company’s charity foundation announces its intention to support social courses as well as marginalized people affected by the outbreak of Covid-19 with a total sum of $8.5 Million USD.  And in the year 2021, the company’s Diversity and Inclusion Report was published with the title, The Power of Everyone – Building a Better World 

Caterpillar Inc. has evolved enormously and has taken part in major histories of the world. For example, in the year 2007 when the Peru Earthquake broke, as well as in the 2009 China earthquake, the company played a significant role in the disaster by availing cities with backup powers. Additionally, the company has also played a major role during hurricane disasters as well as supplying 24/7 power to hospitals in critical situations.   

Caterpillar Inc. Product Listings and Offerings 

Although, Caterpillar Inc., has an array of product offerings, however, this section will outline the major ones for the sake of brevity. 

Products include: 

D11 Bulldozer 

345C Excavator 

797F Haul Truck 

C13 Diesel Engine 

9304 Wheel Loader 

C280 Gasoline/Diesel Engine 

C32 Gasoline/Diesel Engine 

Caterpillar Inc. Brands & Subsidiaries 

Cat 

Cat Reman 

Cat Financial 

Cat Rental Store 

Anchor 

Asia Trak 

FG Wilson 

Hindustan 

Mak 

MWM 

Olympian 

Perkins 

Progress Rail 

SEM 

SPM Oil & Gas 

Turner Powertrain System 

Caterpillar Inc. Financial Overview 

Revenue: 48.19 Billion USD (2021) 

Total Equity: 16.52 Billion USD (2021) 

Total Assets: 82.79 Billion USD (2021) 

Operating Income: 6.88 Billion USD (2021) 

Net Income: 6.49 Billion USD (2021) 

Caterpillar Inc. Pros and Cons 

This section will address the pros and cons of Caterpillar Inc., according to reviews on  Glassdoor as well as a critical review of the company. 

Pros include: 

Wide range of products and service offerings: in its entirety, Caterpillar Inc., offers a wide range of product and service offerings that are intensively useful across several industries. 

Vast and wide market reach: With its presence in major continents across the world like North America, Europe, and Asia, Caterpillar Inc. no doubt has a wide range of market reach.  

Extensive training for new employees: Employees at Caterpillar Inc., reports the company has a tremendous and comprehensive training process for new employees that adds value to their respective career pursuit.  

An environment that fosters career development: Employees also describe the company as a great environment to work in.  

Competitive pay 

Great People   

Cons 

Layoff Threat During Business Downtime 

No Work/Life Balance 

Conclusion 

In a nutshell, Caterpillar Inc. is no doubt an amusing and intriguing case to study as a result of its long-shot years in the industry, its cutting-edge and innovative milestones as well as its commitment to expansion. As seen in the above-detailed history that the company leverages its industrial insights and expertise to attain such a great feat and it’s still dedicated to doing the same in years to come. Finally, I hope your expectation highlighted in the introductory portion of this paper have been addressed. However, on the off chance that you are yet to completely absorb all that is drafted in this piece at once, I recommend that you review it over and over again until you are in sync with the entire information.