[Edit]Origin of Caterpillar Name Move to Peoria
Caterpillar Inc. (NYSE: CAT), also known as "CAT", designs, manufactures, markets and sells machinery and engines and sells financial products andinsurance to customers via a worldwide dealer network.[2][3] Caterpillar is the world's largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.[2] With more than US$70 billion in assets, Caterpillar was ranked number one in its industry and number 44 overall in the 2009 Fortune 500.[6] Caterpillar stock is a component of the Dow Jones Industrial Average.[7] Caterpillar Inc. traces its origins to the 1925 merger of the Holt Manufacturing Company and the C. L. Best Tractor Company, creating a new entity, the California based Caterpillar Tractor Company.[8] In 1986, the company re-organized itself as a Delaware corporation under the current name, Caterpillar Inc.[3] Caterpillar's headquarters are located in Peoria, Illinois, United States.[1] In the late 1890s and early 1900s, competitors Daniel Best and Benjamin Holt individually experimented with ways to improve the traction of steam tractors used in farming California's Central Valley. [edit]Origin of Caterpillar name The steam tractors of the 1890s and early 1900s were extremely heavy, sometimes weighing 1,000 pounds (450 kg) per horsepower, and often sank into the rich, soft earth of the San Joaquin Valley Delta farmland surrounding Stockton, California. Benjamin Holt attempted to fix the problem by increasing the size and width of the wheels up to 7.5 feet (2.3 m) tall and 6 feet (1.8 m) wide, producing a tractor 46 feet (14 m) wide.
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