We're delighted to have this Fortune 50 Company a part of Accelerator 2008. The Caterpillar Financial project will be an international issues project that will likely focus on markets, financial services, real estate, and logistics. This particiular "real world" project will be an outstanding opportunity for university students to learn about this fascinating business. I suspect it will be far more engaging that just about any internship one could have.
About Caterpillar Financial Services Corporation:
Headquartered in Nashville, Tenn., Caterpillar Financial Services Corporation is the financial arm of Caterpillar Inc., a Fortune 50 company, a technology leader and the world's largest manufacturer of construction and mining equipment, natural gas and diesel engines, and industrial gas turbines.
For 25 years, Cat Financial, a wholly-owned subsidiary of Caterpillar Inc., has been providing a wide range of financing alternatives for the complete line of Caterpillar machinery and engines, Solar ® gas turbines, other related equipment and marine vessels. The company also extends loans to customers and dealers. Cat Financial has offices and subsidiaries located throughout the Americas, Asia, Australia, and Europe.
Financial ResultsIn 2006, Cat Financial reported revenues of $2.76 billion, up 17 percent compared with 2005. Profit after tax was $473, a 30 percent increase over 2005. New retail financing was a record $12.16 billion, up 4 percent from 2005.
Service ExcellenceCat Financial offers financing and leasing for all of Caterpillar's product line, with services available for each market that Caterpillar serves. These markets include general, heavy and compact equipment construction, engines, power generation, lift trucks, asphalt paving, marine, and forestry.