DEERFIELD, Ill., June 17, 2020 /PRNewswire/ -- The
Caterpillar Foundation, the philanthropic arm of Caterpillar Inc.
(NYSE: CAT), today announced a commitment to help fight racism
and social injustice.
To honor the lives lost and keep with its mission, the
Caterpillar Foundation is donating $1
million split between the following two organizations
($500,000 each):
- The Equal Justice Initiative is committed to ending mass
incarceration and excessive punishment, challenging racial and
economic injustice, and protecting fundamental human rights for the
most vulnerable in our society.
- The NAACP Legal Defense and Educational Fund, Inc. seeks
structural changes to expand democracy, eliminate disparities and
achieve racial justice in a society that fulfills the promise of
equity for all Americans.
"Caterpillar supports the fight against racism and injustice,"
said Chairman and CEO Jim Umpleby.
"Caterpillar and the Caterpillar Foundation look forward to working
with the Equal Justice Initiative and the NAACP Legal Defense and
Educational Fund to help build a better world."
The Foundation will continue investing in community programs
that address the destructive effects of racism and the fight for
equal justice.
Through its existing U.S. Matching Gifts Program, the
Caterpillar Foundation is also matching employee and retiree
donations to eligible organizations that are most important to
them, their families and the communities in which we live and work
in the fight against racism and social injustice.
About Caterpillar
Since 1925, Caterpillar Inc. has been helping our customers
build a better world – making sustainable progress possible and
driving positive change on every continent. With 2019 sales and
revenues of $53.8 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. Services offered
throughout the product life cycle, cutting-edge technology and
decades of product expertise set Caterpillar apart, providing
exceptional value to help our customers succeed. The company
principally operates through three primary segments – Construction
Industries, Resource Industries and Energy & Transportation –
and provides financing and related services through its Financial
Products segment. For more information, visit caterpillar.com. To
connect on social media, visit caterpillar.com/social-media.
About Caterpillar Foundation
Founded in 1952, Caterpillar's philanthropic organization, the
Caterpillar Foundation, has contributed about $770 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; and (xxvi) 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 Inc.