Caterpillar is moving its global headquarters from its current location in Deerfield Illinois to an existing office in Irving Texas. The company announced the move Wednesday.

Chairman and CEO Jim Umpleby said, “We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world.”

Illinois has the biggest concentration of Caterpillar employees in the world.

Caterpillar had an excellent first quarter, with sales and revenue of $13.6 billion, a 14% increase over the $11.9 billion they earned in the first quarter of 2021. Inventory for dealers also rose over 2021. Its operating profit margin was 13.7%, and the profit per share was $2.86.

Jim Umpleby said, “I’m proud of our global team’s performance as the achieved double digit sales growth despite ongoing supply chain challenges. We remain focused on supporting our customers and executing our strategy for long-term profitable growth,”

The move to Texas will begin this year.


Verified by MonsterInsights