Caterpillar Plans Training Investment

Illinois based world’s largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines, Caterpillar (NYSE:CAT), has reportedly decided to invest $4.5 million in the philanthropic arm of Caterpillar (NYSE:CAT), Caterpillar Foundation, for training the future workmen of the company.

Caterpillar’s Washington director who represented the company at the IYF announcement in Colombia, Bill Lane, “What we’re announcing today is a commitment to directly train youth in Brazil, Mexico, Panama and Peru. It’s simple really. More skilled workers are needed in these regions. These countries have unacceptably high levels of unemployed youth. We are confident that by providing life and technical skills as well as mechanical training to the youth in these regions that it will open doors that may have otherwise been locked. Whether they become a diesel mechanic who works on a Cat machine or a laboratory technician in a hospital, the goal for these young men and women is sustainable employment that will set the stage for better things to come.”

Caterpillar Inc. (NYSE:CAT) company shares are currently standing at 106.74.

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