A Brief about the Company’s Core Business:
Caterpillar Inc. formed due to the merger of the Holt Manufacturing Company and the C. L. Best Tractor Company and was named Caterpillar Tractor Company. In 1986, they reorganized themselves under the current name, Caterpillar Inc. Their headquarters is located in Peoria, Illinois. Caterpillar Inc. is a leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. They also are a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, and Progress Rail Services.
Success is certain in Every Challenging Endeavor:
Caterpillar also dates back to the stream tractors of the 1890s which were dangerously heavy and sank into the farmland making it difficult to get any work done. Benjamin Holt attempted to fix this problem in which he came up with an update machine that worked a lot easier. In 1905 the Holt stream traction engines worked on the construction of San Francisco’s cable car system. The photographer of the company reported that the tractor crawled like a caterpillar and since then Holt named the tractor after it .They helped with other constructions over time like the Los Angeles Aqueduct Project. In 1910, Holt established a plant in East Peoria, Illinois with his nephew Pliny Holt. They met Murray Baker who helped them find an empty factory. Baker later became the first executive vice president for Caterpillar Inc. Holt then exported over 1,200 tractors to England, France and Russia. When the U.S. declared war, Holt’s tractors played a significant role. He decided to place its facilities at the disposal of the U.S. government and began to expand factories so that they could accommodate the production of large quantities of tractors that the government needed. Holt produced about 5,000 tractors during World War I which made the Holt tractor to become one of the most significant military vehicles of all time. The tractors built for military purposes were now unsuitable for farmlands. They began to struggle with the transition from war to everyday needs. The company had to let Thomas A. Baxter succeed Benjamin Holt after his death and begin introducing new models for the agricultural market. This is when Caterpillar and C. L. Best decided to merge.
Caterpillars to the Rescue:
Over time the caterpillar tractor helped with many important events such as pulling the Southern Cross monoplane from the hanger to the runway at an airport in Oakland, helped construct the King Albert Canal, the Hoover Damn, Mississippi Levee construction project, the Golden Gate bridge, the Fort Peck Dam, the Grand Coulee Dam, the Chesapeake and Delaware Canal, and the Muskingum Watershed Conservancy district flood control project. These tractors also aided different countries after natural disasters or in rescue operations. They came to the rescue on numerous times making them the go-to aid for any kind of situation. These caterpillar tractors continued to be used for building highways, serving on Air Bases, constructing buildings, dams, landscaping, construction projects, supported World War II, pipelines, railways, prepare for the Olympic Games, pulling the first undersea telephone cables, etc.
Caterpillars at Present:
This company is now known as a global leader led by Doug Oberhelman who is the chairman and the CEO of the company. He joined in 1975 holding various positions until he climbed the ladder to the top. The founders of Caterpillar, Benjamin Holt and Daniel Best, had a mission to provide improved solutions for their customers' needs. The founders were both were among the first to introduce steam- and gasoline-powered farm machines. After making a partnership in 1925 form this company, they were first to market with diesel-powered track-type tractors. Since these days, Caterpillar employees still follow in their founders' footsteps, introducing breakthrough solutions in turbo charging technology, electronic controls, fuel systems, drive systems and more for the goal of enhancing their consumer’s needs.
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