Caterpillar 2011 Annual Report Download - page 42

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Financial Products & Corporate Services 42
WHAT THE WORLD NEEDS | 2011 YEAR IN REVIEW
Chairman’s
Message
Construction
Industries
Customer &
Dealer Support
Financial Products &
Corporate Services
The Caterpillar
Foundation Leadership Performance
Resource
Industries
Energy &
Power Systems
When Cat Leasing began in 1981, it had 12 employees specialized
in financing lift trucks in Peoria. Fast-forward 30 years to
Caterpillar Financial Services Corporation headquartered in
Nashville, Tenn., to see how this vital part of Caterpillar has grown.
During the past three decades, Cat Financial has expanded to
more than 2,000 employees in 46 offices worldwide who support
Cat® dealers and their customers around the world as they make
progress possible.
Securing equipment financing is often a vital step for customers
to begin projects. The goal of Cat Financial is to successfully
finance product purchases in order to get equipment to the
job site quickly. Cat Financial offers global product-financing
solutions to customers for projects of every size and provides
quotes and customized financing plans to keep the order-to-
production process as smooth as possible.
Today, Cat Financial is an integral part of many of the most
visible and strategic construction projects in the world, such as
the expansion of the Panama Canal. Cat Financial has worked
with Caterpillar customers in Panama since 2009 to finance
tractors and trucks to expand and update the 98-year-old
engineering marvel. Most recently, Cat Financial provided an
additional $35 million financing package for the Panama PAC4
contract that included 75 units of equipment. This is an increase
over the 243 units already financed for the Canal’s expansion.
In all, Cat Financial is financing 92 percent of the machine sales
for this vital link in the global commerce chain.
Cat Financial is also instrumental in helping open new market
opportunities. During 2011, Indonesia’s second-largest coal
mining company, BUMA, committed to purchasing Cat® mining
trucks, their first Cat® equipment purchase since 2004. With the
help of Cat Financial, BUMA placed an order for 178 machines
from Indonesian Cat® dealer, PT Trakindo Utama (Trakindo).
BUMA has also signed maintenance and repair agreements
with Trakindo to secure product support for their machines
over the next eight years. Without the help of Cat Financial,
a steady delivery of machines for BUMA’s mining projects
would not be possible.
As global demand increases for the goods and services that
Caterpillar customers provide, the demand for Cat Financial’s
support will increase as well, and the division will be there to
help customers get the most out of their equipment investment.
Financing
Progress
From humble beginnings, Caterpillar
Financial Services Corporation is
celebrating 30 years of helping projects –
both big and small – become realities.