PEORIA, Ill., Dec. 6, 2016 /PRNewswire/ -- Caterpillar Inc.
(NYSE: CAT) employees and retirees together with the
Caterpillar Foundation have pledged more than $11.5 million to United Way agencies across
the United States as part of its
2016-2017 campaign. This amount includes a dollar-for-dollar
matching grant from the Caterpillar Foundation. The United Way has
been Caterpillar's only annual solicitation for funds to its
employees and retirees for more than 60 years.
"Our employees and retirees are committed to making a positive
impact in the communities where they live and work," said
Caterpillar Foundation President Michele
Sullivan. "That's why they continue to donate every year to
the United Way even during these challenging economic times to
support their communities, neighbors and sometimes even their
families and friends. More than half the money raised will go to
the Heart of Illinois United Way in Peoria, Illinois, which is home to our
corporate headquarters. Outside of Peoria, our employees and retirees give just
as generously and their contributions are from Nashville, Tennessee, to Corinth, Mississippi, to San Diego, California, and more."
Since the Caterpillar Foundation began investing in the United
Way, employees and retirees have been able to designate their
contributions to the United Way of their choice.
"The United Way assesses the 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," said Sullivan. "That's done through the Boys
& Girls Clubs,
Court Appointed Special Advocates (CASA) for Children, The
Salvation Army and the hundreds of other United Way-funded
agencies."
Employees and retirees pledged more than $5.7 million, and Caterpillar's overall employee
participation in 2016 reached 47 percent.
"On behalf of more than 500 local United Ways and our member
agencies, I wish to express my sincere appreciation for the
unwavering support and volunteer leadership of Caterpillar
employees," said Michael Stephan,
President of the Heart of Illinois United Way. "Caterpillar's
steadfast commitment in partnering with United Way to ensure vital
programs are available that positively impact the education, income
and health of our communities is truly humbling. United Ways,
and the communities we serve, tremendously benefit from the
generous investments of the Caterpillar Foundation and all the
employees and retirees who graciously give back to communities
where they live and work."
Caterpillar also has two international United Way campaigns. One
is in Panama, and the other is in
Mexico.
About Caterpillar Foundation
Founded in 1952, Caterpillar's philanthropic organization, the
Caterpillar Foundation has contributed more than $650 million to help make sustainable progress
possible around the world by providing program support in the areas
of environmental sustainability, access to education and basic
human needs. To learn more about the global impact of the
Caterpillar Foundation,
visit www.togetherstronger.com.
About Caterpillar
For 91 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 2015
sales and revenues of $47.011
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 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) government monetary or fiscal policies
and infrastructure spending; (iii) commodity price changes,
component price increases, fluctuations in demand for our products
or significant shortages of component products; (iv) disruptions or
volatility in global financial markets limiting our sources of
liquidity or the liquidity of our customers, dealers and suppliers;
(v) political and economic risks, commercial instability and events
beyond our control in the countries in which we operate; (vi)
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; (vii) our Financial Products segment's risks associated
with the financial services industry; (viii) changes in interest
rates or market liquidity conditions; (ix) an increase in
delinquencies, repossessions or net losses of Cat Financial's
customers; (x) new regulations or changes in financial services
regulations; (xi) a failure to realize, or a delay in realizing,
all of the anticipated benefits of our acquisitions, joint ventures
or divestitures; (xii) international trade policies and their
impact on demand for our products and our competitive position;
(xiii) our ability to develop, produce and market quality products
that meet our customers' needs; (xiv) the impact of the highly
competitive environment in which we operate on our sales and
pricing; (xv) failure to realize all of the anticipated benefits
from initiatives to increase our productivity, efficiency and cash
flow and to reduce costs; (xvi) additional restructuring costs or a
failure to realize anticipated savings or benefits from past or
future cost reduction actions; (xvii) inventory management
decisions and sourcing practices of our dealers and our OEM
customers; (xviii) compliance with environmental laws and
regulations; (xix) alleged or actual violations of trade or
anti-corruption laws and regulations; (xx) additional tax expense
or exposure; (xxi) currency fluctuations; (xxii) our or Cat
Financial's compliance with financial covenants; (xxiii) increased
pension plan funding obligations; (xxiv) union disputes or other
employee relations issues; (xxv) significant legal proceedings,
claims, lawsuits or government investigations; (xxvi) changes in
accounting standards; (xxvii) failure or breach of IT security;
(xxviii) adverse effects of unexpected events including natural
disasters; and (xxix) other factors described in more detail under
"Item 1A. Risk Factors" in our Form 10-K filed with the SEC on
February 16, 2016 for the year ended
December 31, 2015.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/caterpillar-invests-115-million-in-united-way-300373578.html
SOURCE Caterpillar Inc.