Company Overview

In 1925, long before baseball caps bearing the company logo became de rigeur among the real-man set, Benjamin Holt and Daniel Best formed the Caterpillar Tractor Company. Cat has since grown into one of the biggest manufacturers of industrial-strength machines and engines, serving industries such as forestry, scrap, energy, mining, transportation, construction, and demolition.

Caterpillar products and components are manufactured in 50 U.S. facilities and in countries around the globe, and the company’s machinery is distributed in more than 200 countries through a network of 180 dealers. The company also rents equipment through 1,500 Caterpillar Rental Stores. Cat sells its own brand of boots, clothing, and auto parts and provides financial, insurance, and warehousing services, and also sells products of other companies.

In 2005, the company made plans to expand into new automotive and industrial original equipment manufacturers (OEMs), as well as the defense industry. It continues to be an industry leader in research and technology, with more than 3,700 patents earned since 1997. And it continues to build capacity, with a particular focus on remanufacturing now and in the future. That aspect of the business grew in 2006, when Caterpillar agreed to buy the remanufacturing business of OEM Remanufacturing and the purchase of Progress Rail, a leading aftermarket firm which provides remanufactured railroad track, locomotive, and railcar components.

In 2008, Caterpillar announced the creation of a first-of-its-kind tractor, the D7E. The electric drive vehicle will consume less fuel and parts than other models and also give customers a heavy wallet by lowering the operating costs. The D7E is due to hit the market in 2009.