Caterpillar History

Circa 1890.	Benjamin Holt and Daniel Best experimented with various forms of steam tractors for use in farming. They did so separately, with separate companies. Both were pioneers with track-type tractors and gasoline- powered tractor engines.
1915.	Holt "Caterpillar" track-type tractors are used by the Allies in World War I.
1925.	The Holt and Best companies merge to form Caterpillar Tractor Co.
1931.	The first Diesel Sixty Tractor rolled off the new assembly line in East Peoria, Illinois, with a new efficient source of power for track-type tractors.
1940.		The Caterpillar product line now included motor graders, blade graders, elevating graders, terracers and electrical generating sets.
1942.	Caterpillar track-type tractors, motor graders, generators sets and a special engine for the M4 tank are used by the United States in its war effort.
1950.	Caterpillar Tractor Co. Ltd. in Great Britain is established, the first of many overseas operations created to help manage foreign exchange shortages, tariffs, import controls and better serve customers around the world.
1953.	The company creates a separate sales and marketing division just for engine customers. Since then, the Engine Division has become a major player in the diesel engine market and now accounts for one quarter of the company's total sales.
1963.	Caterpillar and Mitsubishi Heavy Industries Ltd. form one of the first joint ventures in Japan to include partial U.S. ownership. Caterpillar Mitsubishi Ltd. started production in 1965, has been renamed Shin Caterpillar Mitsubishi Ltd., and is now the No. 2 maker of construction and mining equipment in Japan.
1981.	Caterpillar Financial Services Corporation is formed to offer equipment financing options to customers worldwide.
1981-83.	The worldwide recession took its toll on Caterpillar, costing the company the equivalent of $1 million a day and forcing it to dramatically reduce employment.
1985-present.	The product line continued to diversify to meet a variety of customer needs. More than 300 products are now offered, more than double the figure in 1981.
1987.	A $1.8 billion plant modernization program was launched to streamline the manufacturing process.
1990.	The company decentralized its structure, reorganizing into business units responsible for return on assets and customer satisfaction.
1997.	The company continued to expand, acquiring the U.K.-based Perkins Engines. With the addition of Germany's MaK Motoren the previous year, Caterpillar becomes the world leader in diesel engine manufacturing.
1997.	The company entered the compact machine business, offering construction machines that are smaller and more versatile.
Source: Caterpillar Inc. All rights reserved.