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Caterpillar stock is a component of the Dow Jones Industrial Average. [11] 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, California-based Caterpillar Tractor Company. [12]
The Caterpillar company consolidated its product lines, offering only five track-type tractors: the 2 Ton, 5 Ton, and 10 Ton from the Holt Manufacturing Company's old product line and the Caterpillar 30 and Caterpillar 60 from the C. L. Best Tractor Co.'s former product line. The 10 Ton and 5 Ton models were discontinued in 1926.
In the mid-1920s, Holt encountered financial trouble. Best's financial backers approached Holt executives to discuss a merger. On April 15, 1925, C. L. Best Tractor Company and Holt Manufacturing Company merged to form Caterpillar Tractor Company (later Caterpillar Inc.). [2] Best remained chairman of the board of Caterpillar until his death in ...
By 1916, about one thousand of Holt's Caterpillar tractors were used by the British in World War I. Holt vice president Murray M. Baker said that these tractors weighed about 18,000 pounds (8,200 kg) and had 120 horsepower (89 kW). [13] By the end of the war, 10,000 Holt vehicles had been used in the Allied war effort. [14]
Caterpillar Chronicle: The History of the World's Greatest Earthmovers (hardcover ed.). St. Paul, Minnesota, United States: MBI Publishing Company. ISBN 978-0-7603-0667-3. The largest tractor in the Caterpillar line was the Sixty, the former Best 60.
The name Caterpillar came from a soldier during the tests on the Hornsby crawler, "trials began at Aldershot in July 1907. The soldiers immediately christened the 70bhp No.2 machine the 'caterpillar'." [25] Holt adopted that name for his "crawler" tractors. Holt began moving from steam to gasoline-powered designs, and in 1908 brought out the 40 ...
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A Holt tractor hauling a 9.2-inch howitzer to a forward area in The Battle of the Somme July–November 1916. They were widely used by the British, French and American armies in the First World War for hauling heavy artillery including the BL 9.2-inch howitzer and the BL 8-inch howitzer. [2]