Funds will help improve the lives of
individuals in communities across the
United States, Mexico,
Canada and Panama
IRVING,
Texas, Nov. 3, 2022 /PRNewswire/ -- Caterpillar
Inc. (NYSE: CAT) employees and retirees together with the
Caterpillar Foundation, the philanthropic organization of
Caterpillar, have pledged more than $13.8 million to the
United Way chapters across the United States, Mexico, Canada and Panama as part of its
2022-2023 campaign. This record amount is a $1 million increase from 2021.
From San Diego, California to
Sanford, North Carolina and
Toronto, Canada to Reynosa, Mexico, Caterpillar employees and
retirees are passionate about giving back to their local
communities.
"I want to express my sincere thanks to our employees and
retirees who are helping to build a better, more sustainable
world," said Caterpillar Chairman and CEO Jim Umpleby. "Their incredible generosity is
demonstrated by our campaign increase from $12.2 million in 2020 to $13.8 million this year, continuing to create a
positive impact in our global communities."
The United Way has been Caterpillar's only annual solicitation
for funds to its employees and retirees for more than 70 years. The
Caterpillar Foundation matches employee and retiree donations
dollar for dollar. Over the past two decades alone, more than
$200 million has been raised during
the annual campaign.
United Way assesses local community needs, finds efficient
programs that deliver measurable outcomes and works to eliminate
those needs in the future by identifying the causes and creating
long-term solutions.
"Caterpillar is proud to harness the passion of our employees
and partner with United Way to help elevate the quality of life for
millions of people worldwide," said Caterpillar Foundation
President Asha Varghese.
Caterpillar is part of the United Way's Global Corporate
Leadership Program, which includes 87 corporate partners that raise
more than $875 million annually. There are more than 1,100
United Way chapters globally, and Caterpillar's annual campaign
supports 531 of these local chapters where the company's employees
live and work.
About Caterpillar
With 2021 sales and revenues of $51.0
billion, Caterpillar Inc. is the world's leading
manufacturer of construction and mining equipment, off-highway
diesel and natural gas engines, industrial gas turbines and
diesel-electric locomotives. For nearly 100 years, we've been
helping customers build a better, more sustainable world and are
committed and contributing to a reduced-carbon future. Our
innovative products and services, backed by our global dealer
network, provide exceptional value that helps customers succeed.
Caterpillar does business on every continent, principally operating
through three primary segments – Construction Industries, Resource
Industries and Energy & Transportation – and providing
financing and related services through our Financial Products
segment. Visit us at caterpillar.com or join the conversation on
our social media channels.
About the Caterpillar Foundation
Founded in 1952, Caterpillar's philanthropic organization, the
Caterpillar Foundation, has contributed more than $850 million to help make sustainable progress
possible around the world by building resilient communities that
thrive in a rapidly changing world. To learn more about the global
impact of the Caterpillar Foundation,
visit caterpillar.com/foundation. 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; (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; (xxvi) the duration and geographic spread of,
business disruptions caused by, and the overall global economic
impact of, the COVID-19 pandemic; and (xxvii) other factors
described in more detail in Caterpillar's Forms 10-Q, 10-K and
other filings with the Securities and Exchange Commission.
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SOURCE Caterpillar Foundation