Caterpillar Tier 4 Engine Designs Highlight Sustainability Commitment
Year in Review Chairman's Message emphasizes balance sheet strength and sustainable developments
Caterpillar Chairman and CEO Doug Oberhelman introduces the 2013 Caterpillar Year in Review:
"So what does our 2013 performance mean? Well, a strong balance sheet means we can weather a storm and grow the company, and of course it affords returns to shareholders. We recently announced a new $10 billion stock repurchase program — an indicator of our confidence in the long-term future of Caterpillar. Our increased market share around the world results in thousands more machines in the field, affording our dealer network the opportunity to sell more parts and service. That’s a tremendous accomplishment.
"For instance, our new Tier 4 designs promise customers better fuel efficiency and productivity, allowing them to leave a smaller environmental footprint. It’s important to the world, it’s important to our customers and it’s important to us. We think about it every day. Another example is our Reman — remanufactured parts — business, where we return end-of-life components to like-new condition. This business reduces waste in landfills and minimizes the need for raw materials to produce new parts by keeping nonrenewable resources in circulation longer. At the same time, remanufacturing allows us to provide cost-effective options for our customers.
"Our commitment to sustainability extends beyond helping protect the environment. We also recognize an obligation to our people and the communities where we live and work. This isn’t something new. The Caterpillar Foundation has been around since 1952, and has invested more than $550 million to provide support for not only environmental sustainability, but also access to education, basic human needs and emergency relief. It’s a legacy we can all be proud of."