WSJ: Caterpillar pledges moey, equipment for relief work in Japan.
Posted: Thu Mar 17, 2011 5:53 pm
Construction-equipment manufacturer Caterpillar Inc. (CAT) said Monday it could provide up to $3 million in cash and machinery to support relief operations following Friday's earthquake and tsunami in Japan.
The Caterpillar Foundation, the company's philanthropic arm, will donate $1 million to the American Red Cross for disaster aid to the northeast coastal region of Japan struck by the earthquake and wall of water from the Pacific Ocean. The foundation also will match up to $500,000 in Red Cross donations from employees, retirees and Caterpillar dealers.
Caterpillar Japan Ltd., the company's business unit in Japan, will provide $1 million of in-kind donations of construction equipment. The Peoria, Ill., company said it will continue to monitor the relief work and make additional contribution as needed.
"Caterpillar extends thoughts and prayers to all of those impacted by the earthquake in Japan," the company said Monday in a written statement.
Caterpillar, the world's largest manufacturer of construction equipment by sales, said Caterpillar Japan's initial evaluation revealed no injuries to its workforce in Japan or damage to manufacturing plants in Sagami and Akashi and the company's headquarters office in Tokyo.
Caterpillar's stock closed regular trading Monday at $102.10, up $2.08, or 2%.
Source:http://online.wsj.com/article/BT-CO-20110314-713101.html
The Caterpillar Foundation, the company's philanthropic arm, will donate $1 million to the American Red Cross for disaster aid to the northeast coastal region of Japan struck by the earthquake and wall of water from the Pacific Ocean. The foundation also will match up to $500,000 in Red Cross donations from employees, retirees and Caterpillar dealers.
Caterpillar Japan Ltd., the company's business unit in Japan, will provide $1 million of in-kind donations of construction equipment. The Peoria, Ill., company said it will continue to monitor the relief work and make additional contribution as needed.
"Caterpillar extends thoughts and prayers to all of those impacted by the earthquake in Japan," the company said Monday in a written statement.
Caterpillar, the world's largest manufacturer of construction equipment by sales, said Caterpillar Japan's initial evaluation revealed no injuries to its workforce in Japan or damage to manufacturing plants in Sagami and Akashi and the company's headquarters office in Tokyo.
Caterpillar's stock closed regular trading Monday at $102.10, up $2.08, or 2%.
Source:http://online.wsj.com/article/BT-CO-20110314-713101.html