Jun 26, 2020

Caterpillar Foundation Commits R1,040,500 to COVID-19 Respon

Bizclik Editor
5 min

Caterpillar Foundation's investment to support local communities across South Africa where the needs are greatest.

JOHANNESBURG, June 26, 2020 /PRNewswire/ -- As the events surrounding the COVID-19 pandemic continue to evolve, the Caterpillar Foundation, the philanthropic arm of Caterpillar Inc. (NYSE: CAT), is committing R1,040,500 to the South African Solidarity Fund to assist the country in its response to the unprecedented crisis.  

"We are proud to partner with King Baudouin Foundation United States to support efforts to prevent, detect and respond to the pandemic in South Africa, including regions where we operate," said Dave Carius, Caterpillar district manager for the Southern Africa region. "The Caterpillar Foundation is focused on building more sustainable and resilient communities, helping them emerge stronger together during this crisis."

The Caterpillar Foundation's contribution, made possible through its support of King Baudouin Foundation United States, is aiding in uniting the nation in solidarity behind the efforts of government, business and civil society to help South Africa through the COVID-19 pandemic. The Fund aims to: detect and prevent, supporting measures to flatten the curve by lowering infection rates; provide essential support and supplies to medical staff and patients, such as protective equipment and ventilators; and support those whose lives are disrupted by COVID-19 through access to food, financial resources and educational materials.

"We are grateful to the Caterpillar Foundation for their generosity towards the people of South Africa. It is through donations such as these that the Solidarity Fund is able to drive impactful health and humanitarian relief programs to alleviate the plight of those in most need," said the Solidarity Fund's interim CEO Nomkhita Nqweni.

"With this funding, the Caterpillar Foundation is providing crucial support for the South African response on the ground.  We are proud to assist them in fulfilling their commitment in the global fight against COVID-19," said Ellena Fotinatos, deputy director, donor and nonprofit services, for King Baudouin Foundation United States.

In total, including support for the South African Solidarity Fund, the Caterpillar Foundation has committed $10 million to directly support global COVID-19 response activities and help organizations that have been impacted, providing healthcare resources; addressing food insecurity; and enabling online education for youth. Support was given to global organizations and funds, including the UN Foundation / World Health Organization Solidarity Response Fund, the Global Foodbanking Network, and locally to many communities around the world where Caterpillar employees live and work.

About Caterpillar
Since 1925, Caterpillar Inc. has been helping our customers build a better world – making sustainable progress possible and driving positive change on every continent. With 2019 sales and revenues of $53.8 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. Services offered throughout the product life cycle, cutting-edge technology and decades of product expertise set Caterpillar apart, providing exceptional value to help our customers succeed. The company principally operates through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect on social media, visit caterpillar.com/social-media.

About Caterpillar Foundation
Founded in 1952, Caterpillar's philanthropic organization, the Caterpillar Foundation, has contributed about $770 million to help make sustainable progress possible around the world by building resilient communities that thrive in a rapidly changing world. To learn more about the global impact of the Caterpillar Foundation, visit caterpillar.com/foundation. To connect with us on social media, visit caterpillar.com/social-media.

Forward-looking Statements
Certain 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. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "forecast," "target," "guide," "project," "intend," "could," "should" or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance and speak only as of the date they are made, and we do not undertake to update our forward-looking statements.

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 and regional economic conditions and economic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (v) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; (vi) our ability to develop, produce and market quality products that meet our customers' needs; (vii) the impact of the highly competitive environment in which we operate on our sales and pricing; (viii) information technology security threats and computer crime; (ix) inventory management decisions and sourcing practices of our dealers and our OEM customers; (x) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xi) union disputes or other employee relations issues; (xii) adverse effects of unexpected events; (xiii) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xiv) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (xv) our Financial Products segment's risks associated with the financial services industry; (xvi) changes in interest rates or market liquidity conditions; (xvii) an increase in delinquencies, repossessions or net losses of Cat Financial's customers; (xviii) currency fluctuations; (xix) our or Cat Financial's compliance with financial and other restrictive covenants in debt agreements; (xx) increased pension plan funding obligations; (xxi) alleged or actual violations of trade or anti-corruption laws and regulations; (xxii) additional tax expense or exposure, including the impact of U.S. tax reform; (xxiii) significant legal proceedings, claims, lawsuits or government investigations; (xxiv) new regulations or changes in financial services regulations; (xxv) compliance with environmental laws and regulations; and (xxvi) other factors described in more detail in Caterpillar's Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.

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