Cat: $50 Billion Now The Target

Posted on October 31, 2005

Having reached its stated goal of $30 billion in revenue a year ahead of schedule, Caterpillar Inc. CEO Jim Owens has raised the bar again, telling a group of financial analysts that the company’ goal is now $50 billion in revenue by 2010. Revenues for 2005 are expected to be around $34.5 billion. Owens said demand for the company’s myriad products is expected to remain strong even during cyclical downturns.

Specifically, Owens said Caterpillar sees more than $15 billion in sales growth over the next five years. "We see an investment climate that is as favorable as it has been in a long time," Owens said.