Caterpillar to Move Global Headquarters to Chicago
31 Januar 2017 - 5:09PM
Dow Jones News
By Anne Steele
Caterpillar Inc. said it would move its global headquarters to
Chicago from its longtime Peoria, Ill., home, becoming the latest
Midwestern company to migrate to a larger city.
Chief Executive Jim Umpleby, who took the helm Jan. 1, said the
board had been discussing the benefits of a more accessible,
strategic location "for some time."
Caterpillar, known for its hulking yellow excavators and
bulldozers, is the world's largest mining and construction
equipment maker.
"Since 2012, about two-thirds of Caterpillar's sales and
revenues have come from outside the United States," he said.
"Locating our headquarters closer to a global transportation hub,
such as Chicago, means we can meet with our global customers,
dealers and employees more easily and frequently."
A small number of senior executives will move into leased office
space beginning in 2017. Caterpillar expects about 300 employees to
be based in the new location when fully operational -- including
some positions relocated from the Peoria area.
Mr. Umpleby said the company values its deep roots in Central
Illinois, and "Peoria will continue to be our hometown," where the
vast majority of employees will remain.
Caterpillar, pointing to "continuing challenging market
conditions and the need to prioritize resources to focus on
growth," said it would not build the previously announced
headquarters complex in Peoria.
Write to Anne Steele at Anne.Steele@wsj.com
(END) Dow Jones Newswires
January 31, 2017 10:54 ET (15:54 GMT)
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