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PEORIA, Ill., Feb. 15, 2013 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) announced today the appointment of a new vice president and changes in responsibility for an existing vice president.
New responsibilities for BluthCaterpillar is moving Tom Bluth, Caterpillar vice president with responsibility for the Earthmoving Division, to become vice president with responsibility for the Mining Products Division. The Mining Products Division is part of Caterpillar's Resource Industries Group and is responsible for product strategy development, product design and sourcing for Caterpillar's mining business. Bluth will replace Luis de Leon, whose departure from the company was previously announced."With important previous leadership assignments in China, Europe and North America during his Caterpillar career, Tom brings significant product and operations experience to this position. Having led the Earthmoving Division since 2009, Tom has improved the market position and profitability for earthmoving machines and has consistently demonstrated the ability to improve product quality while developing and delivering products and services that are critical for the success of our customers around the world," said Steve Wunning, Caterpillar group president with responsibility for Resource Industries.In 2007, Bluth was first appointed a vice president with responsibility for Caterpillar's Asia Pacific Manufacturing Operations. In 2009, Bluth was appointed a vice president with responsibility for the Earthmoving Division. Bluth joined Caterpillar's Legal Services Division in 1995 from private legal practice in Washington, D.C. He held positions within the Legal Services Division until 1998 , and then moved to a series of broad-based business roles including marketing leadership positions in Latin America and North America. Previously, Bluth was worldwide medium wheel loader product manager and Managing Director of Caterpillar France. Bluth holds a degree in electrical engineering from Iowa State University, a MBA from the University of Chicago and a law degree from Northwestern University. Karl Weiss named Vice PresidentCaterpillar's Board of Directors has appointed Karl Weiss to replace Bluth as Caterpillar vice president with responsibility for the Earthmoving Division. "During his 20-year career with Caterpillar, Karl has held positions with increasing levels of responsibility in the areas of product design, marketing, operations and product management, including significant leadership positions in North America, Europe and Asia," said Ed Rapp, Caterpillar group president with responsibility for Construction Industries. "His previous leadership and success in these global positions has given Karl the type of deep expertise and international experience that provides an ideal background for leading our Earthmoving business," Rapp added. Since 2009, Weiss has been the world wide product manager for Caterpillar's medium wheel loaders. Previously, he was Asia regional product manager for both Cat and SEM wheel loaders based in Beijing. Weiss joined Caterpillar in 1992 as a design engineer in Caterpillar's Mining Vehicle Center in Decatur, Illinois. Weiss was then promoted to a number of engineering, product support and product manager positions with increasing levels of responsibility. Weiss holds a degree in agricultural engineering from Purdue University and a MBA from Northern Illinois University. Both moves will be effective April 1, 2013.About Caterpillar:For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2012 sales and revenues of $65.875 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services and Progress Rail Services. More information is available at: http://www.caterpillar.com.Forward-Looking StatementsCertain statements in this press release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
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Caterpillar's actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global economic conditions and economic conditions in the industries and markets we serve; (ii) government monetary or fiscal policies and infrastructure spending; (iii) commodity or component price increases and/or limited availability of raw materials and component products, including steel; (iv) our and our customers', dealers' and suppliers' ability to access and manage liquidity; (v) political and economic risks and instability, including national or international conflicts and civil unrest; (vi) our and Cat Financial's ability to: maintain credit ratings, avoid material increases in borrowing costs, and access capital markets; (vii) the financial condition and credit worthiness of Cat Financial's customers; (viii) inability to realize expected benefits from acquisitions and divestitures, including the acquisition of Bucyrus International, Inc.; (ix) international trade and investment policies; (x) challenges related to Tier 4 emissions compliance; (xi) market acceptance of our products and services; (xii) changes in the competitive environment, including market share, pricing and geographic and product mix of sales; (xiii) successful implementation of capacity expansion projects, cost reduction initiatives and efficiency or productivity initiatives, including the Caterpillar Production System; (xiv) sourcing practices of our dealers or original equipment manufacturers; (xv) compliance with environmental laws and regulations; (xvi) alleged or actual violations of trade or anti-corruption laws and regulations; (xvii) additional tax expense or exposure; (xviii) currency fluctuations; (xix) our or Cat Financial's compliance with financial covenants; (xx) increased pension plan funding obligations; (xxi) union disputes or other employee relations issues; (xxii) significant legal proceedings, claims, lawsuits or investigations; (xxiii) compliance requirements imposed if carbon emissions legislation and/or regulations are adopted; (xxiv) changes in accounting standards; (xxv) failure or breach of IT security; (xxvi) adverse effects of natural disasters; and (xxvii) other factors described in more detail under "Item 1A.
Risk Factors" in our Form 10-K filed with the SEC on February 21, 2012 for the year ended December 31, 2011.
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SOURCE Caterpillar Inc.