Caterpillar Statement
February 13 2009 - 11:37AM
PR Newswire (US)
PEORIA, Ill., Feb. 13 /PRNewswire-FirstCall/ -- "As I indicated
yesterday, the President and I fundamentally agree that the U.S.
stimulus package will be beneficial to the U.S. economy and should
spur demand for the types of products made by Caterpillar. The
passage of significant stimulus packages in the United States and
abroad would help move the global economy toward a recovery, and if
these packages are enacted quickly, they could stimulate demand for
our products that would likely, over time, provide Caterpillar the
opportunity to recall employees who have been laid off during this
downturn. We know this won't happen overnight, but I am confident
that swift passage of the stimulus will lay the important
groundwork to rebuild our workforce," said Caterpillar Chairman and
CEO Jim Owens. Owens added, "The tractors and pipelayers made in
East Peoria are used for infrastructure and mining projects in the
U.S and around the world-in fact, more than 55 percent of the
products made in East Peoria are exported from the U.S. As a
bellwether company for the global economy, we are experiencing the
unprecedented depth of this still unfolding global recession and we
believe strongly a fiscal infrastructure investment will create
construction jobs in the near term, and enhance the competitive
position of the U.S. in the global economy." About Caterpillar: For
more than 80 years, Caterpillar Inc. has been making progress
possible and driving positive and sustainable change on every
continent. With 2008 sales and revenues of $51.324 billion,
Caterpillar is the world's leading manufacturer of construction and
mining equipment, diesel and natural gas engines and industrial gas
turbines. The company also is a leading services provider through
Caterpillar Financial Services, Caterpillar Remanufacturing
Services, Caterpillar Logistics Services and Progress Rail
Services. More information is available at: http://www.cat.com/.
SAFE HARBOR Certain statements in this release relate to future
events and expectations and as such constitute forward-looking
statements involving known and unknown factors that may cause
actual results of Caterpillar Inc. to be different from those
expressed or implied in the forward-looking statements. In this
context, words such as "will," "would," "expect," "anticipate,"
"should" or other similar words and phrases often identify
forward-looking statements made on behalf of Caterpillar. It is
important to note that actual results of the company may differ
materially from those described or implied in such forward-looking
statements based on a number of factors and uncertainties,
including, but not limited to, (i) adverse change in general
economic conditions; (ii) adverse change in the industries
Caterpillar serves including construction, infrastructure, mining,
energy, marine and electric power generation; (iii) Caterpillar's
ability to manage material, including steel, and freight costs;
(iv) Caterpillar's ability to generate cash from operations, secure
external funding for its operations and manage its liquidity needs;
(v) material adverse change in customers' access to liquidity and
capital; (vi) currency exchange or interest rates changes; (vii)
political stability; (viii) market acceptance of the company's
products and services; (ix) significant changes in the competitive
environment; (x) epidemic diseases; (xi) severe change in weather
conditions negatively impacting operations; (xii) changes in law,
regulations and tax rates; and (xiii) other general economic,
business and financing conditions and factors described in more
detail in the company's Form 10-Q filed with the Securities and
Exchange Commission on October 31, 2008. This filing is available
on our website at http://www.cat.com/sec_filings. We do not
undertake to update our forward- looking statements. DATASOURCE:
Caterpillar Inc. CONTACT: Jim Dugan, Chief Corporate Spokesperson
of Caterpillar Inc., +1-309-494-4100, Mobile, +1-309-360-7311, Web
site: http://www.cat.com/
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