Caterpillar Grows Quarterly Profits By Increasing Its International Presence
- Apr 18, 2008
Peoria, Ill.–Caterpillar–the world’s largest construction equipment maker, based in Peoria, Ill.–said its first quarter results show it is “weathering a recessionary storm” by growing its international business, the Financial Times said Friday. Quarterly profits at Caterpillar, which was one of the first large U.S. companies to say the economy was going into a recession last year, rose 13 percent to $922 million from $816 million. The company’s plan for 2010 relies on its growth outside of the U.S. Sales and revenue increased 30 percent outside of North America–within it, they grew just 4 percent.