Caterpillar Inc. (NYSE: Ã, CAT) is a Fortune 100 American company that designs, develops, engineers, manufactures, markets and sells machinery, machinery, financial products and insurance to customers through dealer networks worldwide. It is the largest construction equipment manufacturer in the world. By 2016, Caterpillar ranks # 59 on the Fortune 500 list and # 194 on the Global Fortune 500 list. Caterpillar stock is a component of the Dow Jones Industrial Average.
Caterpillar Inc. tracking its origins with merger 1925 Holt Manufacturing Company and C. L. Best Tractor Company, creating a new entity, California-based Tractor Company Tractor. In 1986, the company reorganized itself as a Delaware company under its current name, Caterpillar Inc. Caterpillar headquarters is located in Deerfield, Illinois; announced in January 2017 that during the year it will move its headquarters from Peoria, Illinois, to Deerfield, Illinois, cancel plans from 2015 to build a new $ 800 million headquarters complex in downtown Peoria.
The Company also licenses and markets a series of clothing and work shoes under the Cat/Caterpillar name. Caterpillar machines can be identified with the "Caterpillar Yellow" trademark and "CAT" logo.
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History
Origins
The steam tractors of the 1890s and early 1900s were very heavy, sometimes weighing 1,000 pounds per horsepower, and often sank into fertile and soft soil on the San Joaquin Valley Delta farm fields around Stockton , California. Benjamin Holt attempted to fix the problem by increasing the size and width of the wheel up to 7.5 feet (2.3 m) tall and 6 feet (1.8 m) wide, producing a 46 foot (14 m) wide tractor. But this also makes tractors more complex, expensive and difficult to maintain.
Another solution to consider is to lay a temporary board way in front of the steam tractor, but this is time-consuming, expensive, and disturbing the displacement of the soil. Holt thought to wrap the board around the wheel. He replaced the wheels above Holst 40 horsepower (30 kW), No. 77, with a set of wooden tracks bolted to the chain. On Thanksgiving Day, November 24, 1904, he successfully tested the latest engine that plowed wet delta land on Roberts Island.
Corporate photographer Charles Clements has reportedly observed that the tractor is crawling like a caterpillar, and Holt uses metaphors. "Caterpillar, that's the name for it!" Some sources, though, attribute this name to the British army in July 1907. Two years later Holt sold the first steam-powered tractor crawler for US $ 5,500, about US $ 128,000 today. Each side features a measured track of 30 inches (760 mm) in height with a width of 42 inches (1,100 mm) and a length of 9 feet (2.7 m). The track is 3 inches (76 mm) by 4 inches (100 mm) red wooden slats.
Holt received the first patent for a continuous practical path for use with a tractor on December 7, 1907 for its enhanced "Traction Engine" ("an increase in vehicles, and especially the traction engine class, and includes endless travel platform support where the machine is performed").
Move to Peoria
On February 2, 1910, Holt opened a factory in East Peoria, Illinois, led by his niece, Pliny Holt. There Pliny meets with the farming agency Murray Baker who knows about the newly built empty factory for producing agricultural equipment and steam traction machines. Baker, who later became the first executive vice president of what became the Caterpillar Tractor Company, wrote to Holt's headquarters in Stockton and described the bankrupt Colean Manufacturing Co plant in East Peoria, Illinois. On October 25, 1909, Pliny Holt bought the factory, and immediately started operations with 12 employees. Holt incorporated it as Holt Caterpillar Company, although he was not a trademark of the Caterpillar name until August 2, 1910.
The addition of a factory in the Midwest, despite the substantial capital required to retool the plant, proved so profitable that just two years later the company employed 625 people and exported tractors to Argentina, Canada and Mexico. Tractors built in Stockton and East Peoria.
On January 31, 2017, after more than 90 years of headquarters in Peoria, Illinois, the company announced plans to move its headquarters from Peoria to Chicago, Illinois by the end of 2017. Top echelon officials, including newly installed CEO Jim Umpleby, will start relocating later this year, with a total of up to 100 employees moving by the end of the year. About 300 employees will work in new offices in locations that have not been decided upon after the transition is complete. The company postponed planning for Peoria's new headquarters in autumn 2015 after announcing a restructuring effort that called for up to 10,000 jobs to be cut and about 20 facilities worldwide to close or consolidate. The change contributes to a $ 2.3 billion savings in 2016, but sales and revenues for the past year are still more than 40 percent below the 2012 peak level. Umpleby says that the downturn is the fundamental reason the Board of Directors of the company chooses to move its global headquarters to an area where global markets are in easier reach.
Used in World War I
Holt type tractor played a supporting role in World War I. Even before the US entered WWI officially, Holt had sent 1,200 tractors to Britain, France and Russia for agricultural purposes. But these governments sent tractors directly to the battlefield where the military placed them to transport artillery and supplies. When World War I broke out, the British War Office ordered a Holt tractor and put it through a trial at Aldershot. The War Office was very impressed and chose it as a weapons tractor. Over the next four years, the Holt tractor became the main artillery tractor, mainly used for transporting medium rifles such as a 6-inch howitzer, a 60-pound pounder, and then a 9.2-inch howitzer.
Tractor Holt also became an inspiration for the development of British tanks, which greatly changed the tactics of ground warfare. Major Ernest Swinton, who was sent to France as an army war correspondent, immediately saw the potential of the tractor being tracked. Although Britain then chose a British company to build its first tanks, the Holt tractor became "one of the most important military vehicles of all time".
Post-war challenges
Tractor Holt had become famous during World War I. Military contracts formed a major part of the company's production. When the war ended, Holt's expansion plan to meet military needs was abruptly stopped. The heavy-duty tractors required by the military are not suitable for farmers. The company's situation deteriorated as artillery tractors returned from Europe, pressing prices for new equipment and unsold Holt military tractor inventories. The company is struggling with the transition from wartime boom to peacetime. To keep the company afloat, they borrow a lot.
C. L. Best Gas Tractor Company, established by Clarence Leo Best in 1910 and Holt's main competitor, during the war received government support that enabled him to supply farmers with the smaller agricultural tractors they needed. As a result, Best had gained a considerable market advantage over Holt at the end of the war. Best also assumes considerable debt to enable it to continue its expansion, especially the production of its new Best Model 60 "Tracklayer".
Both companies were negatively affected by the transition from wartime to a peacetime economy, which contributed to the national depression, hampering further sales. On December 5, 1920, 71-year-old Benjamin Holt died after a month of illness.
The Caterpillar company is formed (1925)
Banks and bankers holding large corporate debt forced Holt's board of directors to accept their candidate, Thomas A. Baxter, to replace Benjamin Holt. Baxter initially cut a large tractor from the company's product line and introduced a smaller model that focuses on the agricultural market. When the Federal Aid Highway Act of 1921 funded a $ 1 billion federal toll road development program, Baxter began refocusing the company to build road construction equipment. Both companies also face fierce competition from Fordson companies.
Between 1907 and 1918 Best and Holt have spent approximately US $ 1.5 million in legal costs battling each other in a number of contractual lawsuits, trademarks, and patent infringements. Harry H. Fair from bond brokerage house Pierce, Fair & amp; The San Francisco company has helped finance the debts of C.Ã, L.Ã, Best and Holt shareholders approached him about the financial difficulties of their company. Adil recommends that both companies must join. In April and May 1925, a financially stronger C joined the market leader Holt Caterpillar to form Caterpillar Tractor Co.
The new company was headquartered in San Leandro until 1930, when under the terms of the merger was transferred to Peoria. Baxter was removed as CEO in 1925, and Clarence Leo Best took over as CEO, and remained in that role until October 1951.
The Caterpillar Company consolidates its product line, offering only five track tractors: 2 Ton, 5 Ton, and 10 Ton from Holt Manufacturing Company and Caterpillar 30 and Caterpillar 60 from < product line C.Ã, L.Ã, Best Tractor Co. The 10 Ton and 5 Ton Models were discontinued in 1926. In 1928, 2 Ton was discontinued. The first year's sales are US $ 13 million. In 1929, sales rose to US $ 52.8 million, and Caterpillar continued to grow throughout the Great Depression of the 1930s.
Caterpillar adopted a diesel engine to replace the gasoline engine. During World War II, Caterpillar's products found fame with Seabees, the United States Naval Construction Battalion, which built airfields and other facilities at the Pacific Theater of Operations. Caterpillar is ranked 44th among US companies in the value of wartime military production contracts. During the post-war construction boom, the company expanded rapidly and launched its first business outside the US in 1950, marking the beginning of Caterpillar's development into a multinational corporation.
Expansion in emerging markets
Caterpillar builds its first Russian facility in the city of Tosno, located near St. Petersburg. Petersburg, Russia. It was completed in 16 months and was occupied in November 1999. It has the first electrical substation built in Leningrad Oblast since the Communist government was dissolved on December 26, 1991. The facility was built under harsh winter conditions, where temperatures below - 13 Â ° F (-25 ° C). The construction of the facility is managed by LemminkÃÆ'¤inen Group located in Helsinki, Finland.
The $ 125M Caterpillar Suzhou, a facility of the People's Republic of China, produces wheel loaders and motor graders, especially for the Asian market. The first engine is scheduled for production in March 2009. URS Ausino, in San Francisco, California, manages the facility's construction.
Caterpillar has been manufactured in Brazil since 1960. In 2010 the company announced plans to expand production of small backhoe and wheel loaders with a new plant.
Acquisitions
In addition to increasing sales of its core products, Caterpillar's many growths have been through acquisitions, including:
Divestitures
Caterpillar sometimes does asset divestments that are not aligned with its core competencies.
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Business line
Through fiscal year 2010, Caterpillar divides its products, services and technology into three main lines of business: machinery, machinery and financial products for sale to private entities and governments. Starting in 2011, Caterpillar reported its finances using five business segments: construction industry, resource industry, power systems, financial products, and all other segments.
Machine
Caterpillar has a list of about 400 products to be purchased through its dealer network. The range of Caterpillar engines ranges from tractors tracked to hydraulic excavators, backhoe loaders, motor graders, off-highway trucks, wheel loaders, agricultural tractors and locomotives. Caterpillar machines are used in construction, road construction, mining, forestry, energy, transportation and material handling industries.
Caterpillar is the largest wheel loader manufacturer in the world. Medium size (MWL) and large size (LWL) are designed at the Aurora, Illinois facility. Wheel loaders are being produced at: Aurora, Illinois; Sagamihara, Kanagawa, Japan; Gossel, Charleroi, Belgium; Piracicaba, SÃÆ'Â £ Paulo, Brazil; India and the People's Republic of China. Large wheel loaders are produced exclusively in the United States on three separate assembly lines in Aurora, Illinois.
On-road truck
Caterpillar began selling a line of on-road trucks in 2011, Cat CT660, 8th grade SMK truck. In March 2016, Caterpillar has suspended production of on-highway vocational trucks stating that "The remaining eligible competitors in this market will require significant additional investment to develop and launch a complete truck portfolio, and after an updated review, we decided that there is not a sufficient market opportunity to justify investment, "said Ramin Younessi, vice president responsible for Caterpillar Industrial Systems Division. "We have not started production trucks in Victoria, and this decision allows us to get out of this business before the transition takes place."
Gas engine and turbine
Part of Caterpillar's business is in the manufacture of diesel engines and natural gas and gas turbines which, in addition to their use in company vehicles, are used as prime movers in locomotives, semi-trucks, ships and ships, as well as providers of resources for peak load power plants and emergency generators.
The Caterpillar 3116 engine was in use until the mid-1990s until 1997 Caterpillar introduced the Caterpillar 3126 7,20 cylinder inline 6 engine as the first electronic diesel engine for light trucks and buses. Caterpillar lowered its emissions and noise next year in the 3126B engine version, and increased further emissions in 2002 with 3126E which has an improved high-pressure oil pump and improved electronics. In 2003 Caterpillar began selling a new version of this machine called C7 to meet US emissions standards that came into effect in 2004; it has the same overall design as the 3126 version, but with improved fuel and electronic injectors including the Advanced Combustion Emission Reduction Technology (ACERT) system. In 2007, when ultra-low sulfur diesel became mandatory in North America, Caterpillar updated the C7 to use common rail fuel injectors and improve ACERT electronics.
In June 2008, Caterpillar announced it would exit the diesel engine market on US highways before updating the 2010 Environmental Protection Agency (EPA) emission standards came into force, due to the costly change in engines, which is only a small percentage of total Caterpillar engine sales, likely will happen.
In October 2010, Caterpillar announced it would buy German machine manufacturer MWM GmbH from 3i for $ 810 million.
Caterpillar Defense Products
The subsidiary of Caterpillar Defense Products, headquartered in Shrewsbury, England, provides diesel engines, automatic transmissions, and other components for the British armored layer, British combat tanks, Terrier combat engineering vehicles and tank transporters; Romanian carrier armor carrier MLI-84 and light armored Piranha III Switzerland, currently being developed for use by American lightweight steel formations; large military truck fleet in both the US and the UK; and the CV90 family of infantry combat vehicles used by Swedish, Norwegian, Finnish, Swiss, Dutch and Danish soldiers.
The division also provides propulsion engines and power generation systems for the naval shipbuilding industry, such as the 3512B V-12 turbocharged diesel engine for American-class nuclear submarine Virginia. Caterpillar diesel engines are also used in the San Antonio class of amphibious transport classes, Spanish class frigates Alvaro de BazÃÆ'¡n , English river patrol boats English, Ships Mexican Sierra class patrols, and offshore patrol vessels MEKO A-100 Malaysia Kedah . Poor network security from Caterpillar engines puts American submarine forces at risk for cyber attacks. In a recent interview on cybersecurity, the Navy clarified that Caterpillar actually has some of the safest control systems and will be used as a model of how the Navy will design cyber protection into its control system.
Israel buys bulldozers for the Israeli Defense Force (IDF) from Caterpillar through US government foreign aid money in their civilian configuration. Military modifications and vehicle armor installations are conducted entirely in Israel by the IDF and Israeli Military Industries and Israel Aerospace Industries. IDF uses many Caterpillar heavy equipment such as bulldozers, excavators, wheel loaders, and graders primarily for engineering work, earthwork, and buildings. The most famous machine used by Combat Engineering Corps IDF is the heavy IDF Caterpillar D9 armored bulldozer, which is also used for combat engineering and combat missions under fire.
The highly modified use of the Israeli Armed Forces Caterpillar D9 bulldozer has caused Caterpillar to be criticized by activists and shareholders. In particular, IDF Caterpillar D9 was involved in an incident in 2003, in which American activist Rachel Corrie was killed by a bulldozer. The lawsuit against Caterpillar by his family and the Palestinian family, who was also killed by Caterpillar equipment, was unsuccessful. The lawsuit against Israel and the Israeli Defense Ministry was rejected by the court, which ruled that his death was an accident, caused by the limited field of view of the heavy armored operator cabins. In 2014 Presbyterian Church (USA) sells its stake in Caterpillar by citing the use of Caterpillar bulldozers involved in demolition and surveillance activities in the West Bank.
Caterpillar Electronics
Caterpillar Electronics' business unit has established Caterpillar Trimble Control Technologies LLC (CTCT), a 50:50 joint venture with Trimble Navigation to develop electronic guides and control products for earth moving machines in the construction, mining and waste industries. CTCT is based in Dayton, Ohio and started operations on April 1, 2002.
Agricultural products
Caterpillar introduced the Challenger agricultural tractor as a result of several development programs over a long period of time. The program began in the 1970s and involves D6-based units and Grader power units. The parallel program also developed a high hp tractor based on the use of an articulated shovel loading chassis coupled with a crawler team. The result is the Challenger Tractor and the "Mobi-Trac" system.
Challenger has been marketed in Europe as a Claas machine since 1997, with Caterpillar marketing, Claas building a joint lexion in the United States. Claas and Caterpillar formed a joint venture, Claas Omaha , to build a harvest joint in Omaha, Nebraska, USA under the brand name CAT . In 2002, Cat sold its shares to Claas, and granted CAT CAT licenses and CAT yellow livery to Claas. They are marketed as Lexion merge now.
Also in 2002, Caterpillar sold the Challenger tractor business tracked to AGCO and licensed the use of Challenger and CAT names and livery to them. This put an end to Cat's farming efforts.
Financial products and brand licenses
Caterpillar provides financing and insurance to customers through its worldwide dealer network and generates revenue through Caterpillar and CAT trademark and logo license.
Brand License
Caterpillar sells the right to manufacture, market and sell products with Cat trademarks to licensees worldwide. Wolverine World Wide is one example, a licensee since 1994 and is currently the only company licensed to produce Cat branded footwear. Other licensed goods sold include Cat product scale models, clothing, hats, suitcases, watches, flashlights, shovels, knives, fans, gloves, smart phones and other consumer products.
Operation
Manufacturing
Caterpillar products and components are manufactured in 110 facilities around the world. 51 factories located in USA and 59 overseas factories located in Australia, Belgium, Brazil, Canada, China, Czech Republic, UK, France, Germany, Hungary, India (Chennai), Indonesia, Italy, Japan, Mexico, Netherlands, Ireland North, Poland, Russia, Singapore, South Africa and Sweden.
The historic Caterpillar manufacturing house is in Peoria, Illinois, which is also the location of Caterpillar's world headquarters and core research and development activities. Although Caterpillar has contracted most of its local production and warehousing to a third party, Caterpillar still has four major factories in the Peoria area: Mapleton Foundry, where diesel engine blocks and other large parts are thrown; East Peoria factory, which has been assembling Caterpillar tractors for more than 70 years; Mossville engine plant, built after World War II; and Morton tribal facilities.
Main facilities in Europe: Belgian: Gosselies (1965): Hydraulic Excavators, Medium Wheel Loaders, components (factory closed in 2016)
Distribution
Caterpillar products are distributed to end users in nearly 200 countries through a network of 220 Caterpillar dealers worldwide. Caterpillar dealers are independently owned and operated businesses with exclusive geographical areas. Dealers provide sales, maintenance and repair services, rental equipment, and component distribution. Finning, a dealer based in Vancouver, Canada, is Caterpillar's largest global distributor. Gmmco Ltd is the No. 1 Dealer in India for Caterpillar Machines.
Most dealers use a management system called DBS for their day-to-day operations.
In the first quarter of 2006, 66% of Caterpillars' sales were made by one of 63 dealers in the United States, with the remaining 34% being sold by one of Caterpillar's 157 overseas dealers.
Management
Caterpillar has a corporate governance structure where the Chairman of the board also acts as Chief Executive Officer (CEO). The Board of Directors is fully independent and consists of non-employee directors selected from outside the company. Some group presidents report to the CEO, and some vice presidents report to each group president.
The Board has four committees: Audit, Compensation, Governance, and Public Policy.
The behavior of all employees is governed by the Code of Business Conduct Worldwide, first published in 1974 and last modified in 2005, which sets the company's standards for honesty and ethical behavior. Management employees are re-tested this code every year.
Current board of directors
In August 2014, the board of directors is structured as follows:
On January 1, 2017, Jim Umpleby replaced Douglas R. Oberhelman as CEO and Dave Calhoun became Non-Executive Chairman.
Labor and employment
As of December 31, 2009, Caterpillar employs 93,813 people among whom 50,562 are located outside the United States. The current employment rate represents a decline of 17,900 employees compared to the third quarter of 2008. Due to the restructuring of business operations that began in the 1990s, there were 20,000 fewer union jobs in Peoria, Illinois area while employment outside the US increased.
Labor Practices
Caterpillar approached bankruptcy in the early 1980s, at one point losing nearly US $ 1 million per day due to a sharp decline in product demand as competition with Japanese competitor Komatsu increased. (At that time, Komatsu used an internal slogan "circling Caterpillar".) Caterpillar suffered more as the United States declared an embargo against the Soviet Union after the Soviet invasion of Afghanistan, causing the company to sell US $ 400 million in pipelaying machines already built.
Due to the drastic drop in demand, Caterpillar employees are laid off, leading to strikes, especially by members of the United Auto Workers, against Caterpillar facilities in Illinois and Pennsylvania. Several news reports at the time showed that the products piled so high in the facility that substitute workers could barely get into their work stations.
In 1992, United Auto Workers struck five months against Caterpillar. In response, Caterpillar threatened to replace all of Caterpillar's unified workforce. More than ten thousand UAW members struck again in 1994-1995 for 17 months, a record at the time. The strike ended with the UAW deciding to return to work without a contract despite recording earnings and profits by Caterpillar. In 1994, Caterpillar offered contracts to UAW members who would raise the salaries of top workers from $ 35,000 to $ 39,000 per year. However, the UAW seeks the same high salary of $ 40,000 paid to workers at Deere & amp; Company in 1994.
During the strike, Caterpillar uses management employees in an effort to maintain production. It suspends research and development work, sends thousands of engineers and non-bargains to employees to their manufacturing and assembly facilities to replace striking or locked union members.
Rather than continue to fight against the United Auto Workers, Caterpillar chose to make himself less vulnerable to the traditional labor bargaining tactics being organized. One way is to outsource most of the production and warehouse work to an outside company. In another step, according to UAW officials and industry analysts, Caterpillar began executing a "southern strategy". This involves the opening of a new, smaller plant, called "focus facility", in the working state. Caterpillar opened this new facility in Clayton and Sanford, North Carolina; Greenville, South Carolina; Corinth, Mississippi; Dyersburg, Tennessee; Griffin and LaGrange, Georgia; Seguin, Texas; and North Little Rock, Arkansas.
In 2012, the company locked workers at locomotive plants in London, Ontario, Canada and demanded some receive up to 50% discount in payments, in order to be cost competitive with Caterpillar's comparable manufacturing facilities in the United States. The move creates controversy in Canada, with some complaining that the plant was obtained under false pretenses. The Mark's Work Wearhouse retail store starts pulling Caterpillar shoes off the shelf as a result.
On May 1, 2012, 780 members of the local 8551 International Aerospace Expert and Workers' Aerospace Workers Association went on strike. The deal was reached in August, resulting in a 6-year wage freeze. The conspicuous workers expressed his anger about the freezing given to the company's record earnings in 2011 and the salary increase of CEO Oberhelman by 60%.
Environmental recordings
Environmental management
The Caterpillar Division has won the Illinois Pollution Prevention Awards annually since 1997. Caterpillar was awarded the Illinois Forest Pollution Prevention Award 2007 for three projects: The Hydraulic and Hydraulic Systems business unit in Joliet applies flame coatings to its truck suspension system, replaces the chroming process, reduces hazardous waste as much as 700,000 pounds per year and saving 14 million gallons of US (53,000 m 3 ) water. The Cast Metal Caterpillar organization at Mapleton works with the American Foundry Society to help generate rules to reduce hazardous waste in metallic scrap that meets stringent quality requirements, and also allows casting to continue recycling certain scrap types and maintaining a competitive cost structure. The Caterpillar Mossville Engine Center formed a team to look at the reuse and recycling of oil use processes that forced MEC to deliver large amounts of used oil used off-site for recycling, and developed an updated system to recover it for on-site use. The resulting benefits include a reduction in the use of approximately 208,000 US gallons (790 m 3 ) of oil per year.
Caterpillar in 2004 participated in initiatives such as the US National Environmental Protection Agency's Clean Diesel Campaign program, which encourages retrofit of older buses and trucks with newer diesel engines that meet higher emissions standards.
In 2005, Caterpillar donated $ 12 million to The Nature Conservancy in a joint effort to protect and preserve the river system in Brazil, the US, and China.
Caterpillar has, for many years, been a member of the World Business Council for Sustainable Development based in Geneva, Switzerland and has been listed on the Dow Jones Sustainability World Index annually since 2001.
Controversy
Clean Air Act Violations
In July 1999, Caterpillar and five other diesel engine manufacturers signed a consent decree with the Department of Justice and the State of California, after a government inquiry exposed violations of the Clean Air Act. The offense involves more than a million diesel engines sold with a losing device, the device that regulates emissions during pre-sale tests, but it can be disabled for better performance during subsequent road driving. As a result, this machine "... emits up to three times the rate of smoke-forming nitrogen oxide (NOx).In 1998 alone, this infringing vehicle issued an additional 1.3 million tons of NOx - an amount equal to 65 million cars emissions." For this reason, Caterpillar was named the "Clean Air Crime of the Month" for August 2000 by the Clean Air Trust. The approval decision stipulates that $ 83 million is paid in civil penalties and sets a new deadline to meet emission standards. Caterpillar, however, succeeded in lobbying for an extension of the deadline they deem too heavy. Nevertheless, in October 2002, Caterpillar - the only diesel engine company (of those who signed the decree) failed to meet a new emissions standard deadline - was forced to pay $ 128 million in non-machine fitting penalties.
Tax deferral techniques
In March 2017, when a US federal agent raided Caterpillar's headquarters in Peoria Ill, it was proven that the company was taking aggressive measures to control tax costs. Since April 2014, the company's tax policy has been scrutinized by the senate subcommittee headed by Senator Carl Levin. The investigation found significant changes in Caterpillar's offshore tax strategy, culminating in the creation of the new Swiss subsidiary Caterpillar SARL (CSARL) in Geneva. In 1999, former Caterpillar executive Daniel Schlicksup accused the company of distributing parts profits to Switzerland where there were no warehouses or factories. The Internal Revenue Service found the company responsible for a billion dollars of unpaid taxes for 2007 to 2009.
At the same time, the architect of Caterpillar's fiscal strategy, PricewaterhouseCoopers (PWC) came also under surveillance, as this became a conflict of interest, acting as Caterpillar's global tax consultant and supervisor. The Senate revealed documents from the PWC saying the complicated move was just a way to avoid American taxes. "We have to dance," said one. Another noted, "What's this, we'll all retire when this comes up in the audit."
Allegations of human rights violations
The sale of Caterpillar bulldozers to the Israeli Defense Force was investigated by the Office of the UN High Commissioner for Human Rights.
Spy on activists
In 2003, activist Rachel Corrie was destroyed to death by Caterpillar bulldozers. The company was sued by his family afterwards, and although the company did not respond to an offer by the family for an open dialogue after the lawsuit was dismissed, spies from C2i were sent by them to gather information about him. This is unknown until 2017 when according to leaked documents.
Adventure, philanthropy and appreciation
Caterpillar is a prominent member of the US Global Leadership Coalition, a Washington-based coalition of more than 400 large companies and NGOs advocating for increased funding of American diplomatic and development efforts abroad through the International Affairs Budget. Economic development projects in developing countries (especially in rural, agricultural areas) serve as a new market for Caterpillar products by increasing political and economic stability and increasing the average income. 2011 recipient of the Henry C. Turner Award for Innovation in Construction Technology from the National Building Museum.
See also
- G-number for US Army Caterpillar tractor
- List of Caterpillar machines
- Truck list
References
Further reading
- Orlemann, Eric C. Caterpillar Chronicles, World's Largest Earthmovers History . Minneapolis, MN: MBI Publishing Company, 2000. ISBNÃ, 978-0-7603-3673-1
External links
- Official website
- Official Cat Products Website
- Caterpillar Rental Websites
- Charging SEC Caterpillar Inc.
- Antique Caterpillar Machinery Owners Club
- Anti Caterpillar Machine Fans
- Photo of the original Holt machine
- Caterpillar Tractor Company Photo Collection at Historical Collection of Baker Library, Harvard Business School
- New Bulldozers in India
Source of the article : Wikipedia
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