Caterpillar CEO Doug Oberhelman gave a presentation followed by a question and answer session yesterday at The New York Stock Exchange to review the company's updated five-year strategy and goals with analysts and investors.
Oberhelman expressed confidence about Caterpillar's growth opportunities throughout the world and the company's strategic focus on operational execution, which will drive financial performance over the next five years.
Oberhelmam also discussed growth opportunities and highlighted a series of recent investments totaling more than $2.5 billion that will increase capacity in nearly all geographic regions around the world and will position Caterpillar to expand rapidly.
"We have streamlined our organization from the top down, and our leadership team is driving an intense focus on helping our customers succeed," Oberhelman said. "From our factory floors to our research and development laboratories and everywhere across the company, we have the talent in place to win, and as we execute this strategy, we will deliver greater value to our customers, our stockholders and employees."
Oberhelman credited the Caterpillar Production System (CPS) as the primary enabler of the company's plan to execute the updated strategy. Since its implementation, CPS has reduced costs and improved product quality and employee safety, he said.
In the last two months Caterpillar has announced a series of investments to open new facilities, expand existing operations, develop a new mining shovel product line and expand into the locomotive business with the acquisition of Electro-Motive Diesel.
“These recent investments total more than $2.5 billion that Caterpillar is putting to work over the next several years in the United States, Brazil, China and India," Oberhelman said. "Our leadership team will be held accountable to deliver on these goals so that we can help our customers become more profitable. When that happens, everyone wins."
