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CATERPILLAR INC. 2013 YEAR IN REVIEW
3
From an operational perspective, we have continued to make
improvements in safety and quality. This is something I’m particularly
proud of. We’ve been on a safety journey for nearly 15 years now. Since
2001, we’ve moved from the bottom in the rankings of safe places to
work, to being a global leader in safety. We remain vigilant about safety
and our ultimate goal is zero injuries. Likewise, quality is absolutely
essential to living our brand promise. Our products are built to last, and
through our disciplined execution of Lean and leveraging our Caterpillar
Production System (CPS), we are holding ourselves accountable to that
standard. It’s working. Nearly every day, I hear from dealers and cus-
tomers who say we have the best product line we’ve had in decades.
Of course, with these successes comes responsibility. I’m very
pleased to announce that in early 2014, we added Sustainability
to Our Values in Action, clearly stating our responsibility to produce
sustainable solutions. Raising sustainability to a stand-alone value
acknowledges both what we have done in the past and will do in
the future.
For instance, our new Tier 4 designs promise customers better fuel
effi ciency and productivity, allowing them to leave a smaller environ-
mental footprint. It’s important to the world, it’s important to our cus-
tomers and it’s important to us. We think about it every day. Another
example is our Reman – remanufactured parts – business, where we
return end-of-life components to like-new condition. This business
reduces waste in landfi lls and minimizes the need for raw materials to
produce new parts by keeping nonrenewable resources in circulation
longer. At the same time, remanufacturing allows us to provide cost-
effective options for our customers.
Our commitment to sustainability extends beyond helping protect the
environment. We also recognize an obligation to our people and the
communities where we live and work. This isn’t something new. The
Caterpillar Foundation has been around since 1952, and has invested
more than $550 million to provide support for not only environmental
sustainability, but also access to education, basic human needs and
emergency relief. It’s a legacy we can all be proud of.
What will 2014 hold for Caterpillar? We see some signs of improvement in
the world economy and anticipate 2014 sales and revenues will be
similar to 2013. Although there’s a lot of uncertainty in the industries
we serve, especially mining, I feel optimistic. We’ve made good progress
over the past few years in our operational performance – safety, quality,
market share and costs – and I’m confi dent that we are well-positioned
for much better fi nancial results when economic conditions and the key
industries we serve improve. Despite the challenges that may lay ahead,
the successes we achieved in 2013 and the commitment of our people
will serve us well in 2014 and beyond.
Doug Oberhelman
Caterpillar Inc. Chairman & CEO
“ We’ve made good progress over
the past few years in our operational
performance – safety, quality, market
share and costs.“
Strongest balance
sheet in 25 years
25
YEARS