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Noting that the 2010 Icelandic volcano prevented him from attending the last Bauma show, Doug Oberhelman, Caterpillar president and CEO, used that circumstance as an example of how much technology has advanced in just three years during remarks made today at the international trade show.
“Then, we were scrambling to get a satellite feed. Now, it would be nothing. Our machine technology has also made big changes from three years ago,” Oberhelman says.
Cat is showcasing its 336E H hydraulic hybrid excavator as a key technological advance. “It’s the most revolutionary machine to come to the market in decades,” said Oberhelman, “and the largest crowds in our booth have been around that machine.”
In other remarks, Oberhelman said Cat intends to continue its Cat Rental Store business model, pushing it more as a solution in Asia and other markets. “The use of rental will continue to rise,” he said, “and I can see it growing 10 to 15 percent in the next few years.”
Asked about engine sectors, Oberhelman said, “I can’t think of a single sector we’re not positive about.”
Although Cat believes the U.S. economy is recovering, Oberhelman sees slow growth through the remainder of the year. The company will make a fuller comment when it releases its first quarter report next Monday.