The History of Caterpillar Inc.
The Caterpillar Company was formed in 1925, when Holt Manufacturing Company and C.L. Best Tractor Co. merged and formed the Caterpillar Tractor Co. Both of these companies were formed by Benjamin Holt and Daniel Best, also known as the founders of Caterpillar. In 1931, the first Diesel Sixty Tractor rolled of an assembly line in Illinois, thus offering a newer more efficient source of power for the track-type tractors. Later in the 1940s, the Caterpillar product line grew to include motor graders, blade graders, elevating graders, and much more. Caterpillar established many of its first overseas operations beginning in Great Britain in the 1950s, 3 years later the engine sales was restructured to include a separate sales and marketing division, this was so that they could better serve needs to the customers.
Caterpillar now accounts for almost 1/3 of company’s sales and revenues. Caterpillar Leasing Company is expanded to offer equipment financing options to their customers, so in 1983 the company was renamed Caterpillar Financial Services Corporations. Three years after the tractor half of the Caterpillar Company changed to be Caterpillar Inc., which has served as proof of growth and diversity that they received over the years. Around 1998 the world’s largest off-highway truck the 797, was introduced by Caterpillar.
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