Tag Archive for 'Cat'

Caterpillar Announces Officer Retirement

Caterpillar Inc. (NYSE: CAT) announced today that E. Jean Savage, currently vice president of the Surface Mining & Technology Division, has elected to retire.

Earlier today, Trinity Industries, Inc. announced that Savage, a member of the company’s Board of Directors, has been appointed Chief Executive Officer and President, effective February 17, 2020.

“We thank Jean for her 17 years of service to Caterpillar,” said Denise Johnson, Resource Industries group president. “Jean has been instrumental in delivering Caterpillar mining products and services that are focused on accelerating customer benefits in safety and productivity. We appreciate all of her contributions and wish her well in her new role at Trinity Industries.”

Savage joined Caterpillar in 2002 and held numerous leadership roles in Caterpillar’s Progress Rail division, before being named vice president of Advanced Components and Systems division in 2014. Savage went on to lead the Innovation and Technology division before being named vice president of Surface Mining and Technology division in 2017.

Prior to joining Caterpillar, Savage worked for 14 years at Parker Hannifin Corporation, a leader in motion and control technologies and systems, where she held a variety of manufacturing and engineering positions. In addition, Savage served nine years in the Army Reserves as a military intelligence officer.

Savage graduated with a bachelor’s degree in electrical and computer engineering from the University of Cincinnati and a master’s degree in engineering management from the University of Dayton.

Savage’s retirement is effective February 14, 2020. A replacement will be named at a later date.

About Caterpillar:
For more than 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 2018 sales and revenues of $54.722 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 primary segments – Construction Industries, Resource Industries and Energy & Transportation – and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com.

Caterpillar Celebrates 90 Years on the New York Stock Exchange

Caterpillar Celebrates 90 Years on the New York Stock Exchange

Caterpillar Inc. Chairman and CEO Jim Umpleby will ring the opening bell today on the New York Stock Exchange (NYSE) to mark the 90th anniversary of the company’s listing on the NYSE, which is considered the world’s foremost securities marketplace. Of the approximately 2,200 companies listed on the NYSE, Caterpillar (NYSE: CAT) is among only three percent that have been consecutively listed for 90 years or more. 

“I am proud of our entire Caterpillar team. Every day, they create solutions to help our customers build a better world,” Umpleby said.

“Our team’s relentless focus on executing our strategy for profitable growth, including the advanced technologies that we are showcasing at the NYSE today, has given the company a strong balance sheet and the ability to return a significant part of our free cash flow to shareholders. Since 2017, we have repurchased about $7.1 billion in stock and paid about $3.5 billion in dividends.”

As part of the celebration, Caterpillar today is giving Wall Street traders the opportunity to handle an Advanced Construction Excavator Simulator System. Through a panel of video monitors and remote-control technology, traders will have the chance to take a turn at the excavator’s controls and attempt to dig virtual trenches, footings and more. There will also be a variety of Cat machines on display in front of the NYSE including a wheel loader, wheeled excavator, industrial loader and compact loader, all of which have played a part in Caterpillar’s historical success.

Listing on the NYSE is a globally recognized signal of corporate strength and leadership, reserved for companies that meet the NYSE’s stringent requirements for income, market capitalization, cash flow and ethical practice. 

Caterpillar Inc. – 90 Years on the New York Stock Exchange

  • An investor buying one share of Caterpillar Tractor Company at $56.25 in 1929 would have an investment worth about $70,000* today, accounting for share price growth, stock splits and dividends over the past 90 years. (*As calculated at close on December 2, 2019)
  • Caterpillar’s total shareholder return has sustained an annual compounded growth rate of 8 percent since the company listed in 1929.
  • On December 2, 1929, the first listing day, 1,882,240 shares were outstanding, and 400 shares of Caterpillar stock were traded. On December 2, 2019, there were more than 550 million shares outstanding, and about 3 million shares traded. 
  • Caterpillar was founded in 1925 and had its initial public offering in 1925 listed on the Pacific Stock Exchange (now NYSE Arca, Inc.). Our primary exchange listing on the NYSE began on December 2, 1929.

About Caterpillar:
For more than 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 2018 sales and revenues of $54.722 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 primary segments – Construction Industries, Resource Industries and Energy & Transportation – 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

FORWARD-LOOKING STATEMENTS Certain statements in this press release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “estimate,” “will be,” “will,” “would,” “expect,” “anticipate,” “plan,” “forecast,” “target,” “guide,” “project,” “intend,” “could,” “should” or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance and speak only as of the date they are made, and we do not undertake to update our forward-looking statements.

Caterpillar’s actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global and regional economic conditions and economic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (v) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; (vi) our ability to develop, produce and market quality products that meet our customers’ needs; (vii) the impact of the highly competitive environment in which we operate on our sales and pricing; (viii) information technology security threats and computer crime; (ix) inventory management decisions and sourcing practices of our dealers and our OEM customers; (x) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xi) union disputes or other employee relations issues; (xii) adverse effects of unexpected events including natural disasters; (xiii) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xiv) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (xv) our Financial Products segment’s risks associated with the financial services industry; (xvi) changes in interest rates or market liquidity conditions; (xvii) an increase in delinquencies, repossessions or net losses of Cat Financial’s customers; (xviii) currency fluctuations; (xix) our or Cat Financial’s compliance with financial and other restrictive covenants in debt agreements; (xx) increased pension plan funding obligations; (xxi) alleged or actual violations of trade or anti-corruption laws and regulations; (xxii) additional tax expense or exposure, including the impact of U.S. tax reform; (xxiii) significant legal proceedings, claims, lawsuits or government investigations; (xxiv) new regulations or changes in financial services regulations; (xxv) compliance with environmental laws and regulations; and (xxvi) other factors described in more detail in Caterpillar’s Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.

Caterpillar Announces Its First Global Operator Challenge: A Tough Competition to Find the World’s Best Operators

Caterpillar is proud to announce the launch of the 2019/2020 Global Operator Challenge Competition. Operators will test their skills against those of fellow operators around the world to determine who can claim the title of “best.”  In each stage of the competition, operators will be challenged to test their agility, mental toughness, and versatility, as well as their competence in using integrated technology to enhance machine performance, such as Cat®Production Measurement and Cat GRADEsystems.

Operators qualifying in the local heats conducted by Cat dealers around the globe will participate in regional semi-final competitions that are to be held in Japan, Brazil, Spain, and the United States during October and November 2019. The winners in each regional semi-final will take part in the global finals that will take place at Conexpo-Con/Agg, Las Vegas, in March 2020. The crowned champion will be awarded an all-expense, “VIP” trip for two to a global Caterpillar facility of his or her choice. 

The Caterpillar 2019/2020 Global Operator Challenge will be the largest-ever competition of its type, following in the success of the European “New Range-New Rules” competition in October 2018 at the Caterpillar Demonstration & Learning Center in Malaga, Spain. In Malaga, 18 operators from 10 nations across Europe, the Middle East, and Eurasia were in the final competition; German operator Sebastian Behr took the top prize.

“In addition,” says Nunley, “this competition will highlight the Cat Next Generation machines that are transforming job sites by increasing productivity to new levels, providing a new experience of comfort, and ease of operation through technology. We hope the Global Operator Challenge will attract more individuals to join our industry.”

For more information about the Caterpillar Global Operator Challenge, contact the local Cat dealer and visit this site for details www.CatGlobalOperatorChallenge.Com.

World of Asphalt, AGG1 Academy and Expo Host Record-Setting Attendance

CAT REDESIGNED G SERIES CARRIES ON 777 LEGACY WITH NEW TECHNOLOGY FOR HIGH PRODUCTION, FUEL EFFICIENCY, AND OPERATOR AMENITIES

The new Cat® 777G off-highway truck builds on the legacy of performance, reliability, and long-term durability established by 777 models since 1977, both in mining and large earthmoving applications.

Rated payload for the new 777G is 98.4 tons (89.4 MT), with a standard-body volume (SAE 2:1) of 83.8 cubic yards (64.1 m3). The design of the 777G, which replaces the 777F, focuses on fuel efficiency, enhanced visibility, and operator comfort, convenience, and safety.

Conserving fuel

The new 777G’s Cat C32 ACERT™ engine meets US EPA Tier 4 Final as well as EU Stage V emission standards and is available in configurations to meet emission standards of less regulated (LRC) countries. The engine delivers 1,025 gross horsepower (765 kW) and incorporates a number of fuel-conservation features.

Auto Neutral Idle allows the 777G transmission to intermittently shift to neutral when the truck is idling in a forward gear to avoid stalling the torque converter and increasing engine speed. Engine Idle Shutdown, an operator-selected feature, stops the engine when the truck idles in park for more than a preset interval. Speed Limiting provides an alternative to gear-limiting the 777G by allowing the truck to travel at a more fuel-efficient engine speed and in a more efficient transmission gear. Advanced Productivity Electronic Control Strategy (APECS) transmission controls boost fuel efficiency by maintaining momentum and speed on uphill grades during shifts.

In addition, the 777G has two operating modes, Standard Economy and Adaptive Economy. Standard Economy saves fuel by reducing engine power by 0.5 to 15 percent, based on the fleet and economic conditions at a particular site. Adaptive Economy requires a production baseline for the site using the Advisor display, and then, as the truck travels the haul cycle, the system automatically evaluates the power rating needed to meet baseline requirements. Full power is applied when needed, and reduced power is applied when appropriate. The efficiency of the 777G’s performance is further enhanced by 7 percent more engine torque and an increase in top speed.

Operator environment and safety

The 777G features a redesigned cab, easier to enter and exit, and having a new operator seat on the left and a more comfortable trainer seat on the right. A new console with an integrated hoist-and-shift lever enhances convenience, as does more interior space for storage. The truck’s design also emphasizes improved visibility, to both the work area and instrumentation, and overall visibility is further enhanced with an optional object-detection system. Convenience items include a powered left window, automatic temperature control, throttle lock for long uphill grades, and reduced interior sound (by 50 percent, compared with predecessor models)

Operator safety is a primary design factor for the 777G, with roll-over and falling-object protective structures integrated into the cab’s design. Laminated glass is used in the front and left windows, and emergency egress is provided via a right-side hinged window. A ground-level engine-shutdown switch is readily accessible, and a secondary steering system is provided in the event of the primary steering system failure.

Powerful wet-disc brakes are used at all four corners and provide parking brake and slope-holding capability. Brake life can be extended with an available engine brake, and a brake-wear indicator facilitates timely maintenance. Automatic retarding adds to positive control on downhill grades, and a new steering-sensitive traction-control system assists when ground conditions deteriorate

Structures and bodies

The 777G’s major structures are designed for long-term durability in harsh operating conditions, engineered to endure through more than one power-train life cycle. Box-section castings are used strategically in high-stress areas, a new front frame design increases the approach angle on ramps and grades, and a heavy-duty rear axle housing axle allows increased lubrication and filtration of critical components.

The Dual Slope Body, designed for optimum material retention on haul roads with steep slopes, carries material low and centered for stability. Heaped capacity is 78.8 cubic yards (60.2 m3) in its standard configuration. Two side-board sizes increase capacity for lighter weight materials. The X body has a flat floor and facilitates metering material into a crusher; standard heaped capacity is 83.8 cubic yards (64.1 m3). Rubber or steel liners are available for both bodies. Light-material bodies provide capacities to 165 cubic yards (126 m3).

Serviceability

Tire life can be extended for the 777G with the TKPH/TMPH feature that calculates tire loading, and a mud-protection package is available to help keep power train components clean. Hydraulic-oil filter life is 1,000 hours under normal conditions. Fluid-fill and extraction points are grouped for convenience, and all checkpoints are located at ground level and lighted for night access. A master disconnect switch, engine lock-out switch, and hydraulic lockout switch provide a convenient method when servicing the 777G.

 

777G SPECIFICATIONS

Engine Cat C32 ACERT
Net Power (SAE1349) 916 hp (683 kW)
Operating weight, w/std. body 363,000 lb. (164 650 kg)
Weight distribution, loaded, 33F/67R
Transmission speeds 7F/1R
Max. travel speed 41.7 mph (67.1 km/h)