DEERFIELD, Illinois,
April 19, 2017 /PRNewswire/ --
Caterpillar Inc. (NYSE: CAT) announced today that its new global
headquarters will be located in Deerfield, Illinois, a northern Chicago suburb. The new headquarters building
is minutes away from Chicago's
O'Hare International Airport, is centrally located near major
interstates and offers direct access to the Chicago Metra.
(Photo:
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"Following a thorough site selection process, we chose this
location because it is approximately a 20-minute drive to O'Hare
airport and convenient to the city of Chicago via commuter train, achieving our goal
to be more accessible to our global customers, dealers and
employees," said Caterpillar CEO Jim
Umpleby. "This site gives our employees many options to live
in either an urban or suburban environment. We know we have to
compete for the best talent to grow our company, and this location
will appeal to our diverse, global team, today and in the
future."
Caterpillar reached a multi-year leasing agreement with
Corporate 500 office park. The company expects about 100 employees
to relocate this year, with about 300 people in the new
headquarters when fully operational in mid-2018.
"We are pleased that Caterpillar selected our community as the
location for its new global headquarters," stated Harriet Rosenthal, mayor of Deerfield. "Caterpillar joins several other
well-known national and international companies who enjoy the
amenities and ease of access to transportation that Deerfield has to offer."
Deerfield and the company's
growing Digital & Analytics Hub in Chicago's downtown Merchandise Mart, which
opened in 2016, add to Caterpillar's 60-year presence in the
Chicago-area.
"The transition from Peoria to
the new global headquarters will begin later this year. As we've
previously indicated, the vast majority of our employees currently
in the Peoria area will not be
relocating to our new headquarters," said Umpleby. "With our strong
presence of over 12,000 employees in central Illinois, we'll continue our philanthropic
support and civic involvement."
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 2016 sales
and revenues of $38.537 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 product 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," "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) our ability to develop, produce and market quality products
that meet our customers' needs; (vi) the impact of the highly
competitive environment in which we operate on our sales and
pricing; (vii) information technology security threats and computer
crime; (viii) additional restructuring costs or a failure to
realize anticipated savings or benefits from past or future cost
reduction actions; (ix) failure to realize all of the anticipated
benefits from initiatives to increase our productivity, efficiency
and cash flow and to reduce costs; (x) inventory management
decisions and sourcing practices of our dealers and our OEM
customers; (xi) a failure to realize, or a delay in realizing, all
of the anticipated benefits of our acquisitions, joint ventures or
divestitures; (xii) union disputes or other employee relations
issues; (xiii) adverse effects of unexpected events including
natural disasters; (xiv) disruptions or volatility in global
financial markets limiting our sources of liquidity or the
liquidity of our customers, dealers and suppliers; (xv) 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;
(xvi) our Financial Products segment's risks associated with the
financial services industry; (xvii) changes in interest rates or
market liquidity conditions; (xviii) an increase in delinquencies,
repossessions or net losses of Cat Financial's customers; (xix)
currency fluctuations; (xx) our or Cat Financial's compliance with
financial and other restrictive covenants in debt agreements; (xxi)
increased pension plan funding obligations; (xxii) alleged or
actual violations of trade or anti-corruption laws and regulations;
(xxiii) international trade policies and their impact on demand for
our products and our competitive position; (xxiv) additional tax
expense or exposure; (xxv) significant legal proceedings, claims,
lawsuits or government investigations; (xxvi) new regulations or
changes in financial services regulations; (xxvii) compliance with
environmental laws and regulations; and (xxviii) other factors
described in more detail in Caterpillar's Forms 10-Q, 10-K and
other filings with the Securities and Exchange Commission.
CONTACT: Caterpillar contact: Corrie
Scott, Global Government & Corporate Affairs, Office:
309-675-0425, Mobile: 808-351-3865, Scott_Corrie@cat.com
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