He continued, “We’re the right choice because our focus is on the machines and technology. We’re the right choice because we want our customers to be more successful.”
Despite the recent uncertain economic conditions and the decline in demand in some of its markets such as the oil and mining industries Caterpillar has continued to invest in its operations, and in research and development in particular. Umpleby said, “Cat is not waiting for external factors to change. We have invested in Cat Connect and when you buy a Cat machine you buy almost a century of expertise.”
Umpleby added that the firm’s extensive dealer network is a major strength and said, “Not one of our competitors can offer the depth of our dealer network.”
Bob de Lange is construction industries’ group president and said, “Innovation has always been part of Cat.” He explained that the Cat Connect system has helped the company develop its capabilities in telematics, allowing customers to remotely monitor machine fleets and boost working efficiency. He continued, “We have the world’s largest connected industrial fleet of more than 470,000 units and that’s just the beginning. Cat is the leader in data analytics.”
Regarding the firm’s recent decision to move its corporate headquarters from Peoria to Chicago, Umpleby said that business has changed over the years.
“Around 60% of our business is outside the US,” he explained. “We believe that moving a core group of our executives close to O’Hare airport makes it easier for us to access our customers.” And he added that this move also makes it easier for the company’s major international customers to visit the corporate headquarters.”
Looking to market conditions in the US in particular, Umpleby said that the firm is encouraged by recent announcements by the US government: “We’re encouraged by the announcement of investment in infrastructure.” He continued that other global markets are also seeing recovery. “There is certainly a significant improvement in China,” he concluded.
