Caterpillar Power Systems Business Segment Renamed
March 4, 2014
Caterpillar contact:
Barbara Cox
Global Government & Corporate Affairs
309-494-4607
[email protected]
FOR IMMEDIATE RELEASE
Caterpillar Power Systems Business Segment Renamed Energy & Transportation
Name change reflects growth opportunities in industries Caterpillar is well-positioned to serve
LAS VEGAS – Caterpillar Inc. (NYSE: CAT) has announced a name change of its former Power Systems segment to Energy & Transportation. The new segment name was announced today at CONEXPO-CON/AGG 2014, the largest construction equipment tradeshow in North America.
“Global economic growth will drive increasing demand for energy and transportation during the coming decades,” said Jim Umpleby, Caterpillar group president with responsibility for Energy & Transportation. “Caterpillar has made a number of acquisitions and significant investments in product development to expand our participation in the Oil & Gas, Power Generation, Marine, Rail and Industrial markets. Our new name better reflects the industries and customers we now serve.”
Caterpillar has a long legacy as a leading provider of reciprocating engines, gas turbines and centrifugal natural gas compressors to the Oil & Gas industry. Our recently formed Black Horse joint venture with Ariel Corporation provides well-service pressure-pumping products, giving our energy production customers a complete pressure-pumping solution sold and serviced through the Cat® dealer network.
In the power generation industry, Caterpillar’s reciprocating engines and gas turbines have provided prime and standby power, as well as combined heat and power solutions in a variety of applications for many years. There are more than 450,000 Cat generator sets installed around the world. The acquisition of MWM further expanded our capabilities in sustainable, natural gas and alternative fuel engines.
Caterpillar has provided services to the rail industry since our acquisition of Progress Rail in 2006. With the acquisition of Electro-Motive Diesel (EMD) in 2010, Caterpillar offers a broad range of rail products and services, from freight and transit locomotives to freight car, signal and track services.
In 2013, our acquisition of Berg Propulsion added propulsion and control systems to our existing marine engine and auxiliary power product line.
“We have a long legacy of delivering reliable power for our customers,” Umpleby said. “With our expanded lineup of products, services and solutions, we are well-positioned to serve our customers in the growing energy and transportation industries.”
At CONEXPO-CON/AGG, an estimated 125,000 show attendees will have the opportunity to experience four Caterpillar exhibits, totaling nearly 60,000 square feet of floor space and featuring more than 40 machines. Many of the technologies on display in the Caterpillar exhibits will also be leveraged by Energy & Transportation.
About Caterpillar:
For nearly 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2013 sales and revenues of $55.656 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments - Resource Industries, Construction Industries and Power Systems - and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media.