PEORIA, Ill. – History was made 100 years ago this week with the introduction of a machine that would revolutionize the way people work and ultimately lead to the formation of Caterpillar Tractor Co., predecessor of Caterpillar Inc. (NYSE: CAT) based in Peoria, Illinois.  Benjamin Holt first demonstrated his innovative design of a tractor moving on self-laying tracks on Thanksgiving Day, November 24, 1904.

The machine’s movement inspired the name “Caterpillar,” which today is one of the best-known brands in the world.  The development of the track-type tractor is regarded as the original technological breakthrough that changed earthmoving forever.

“The track-type tractor has had an impact on virtually every part of the globe,” said Caterpillar Chairman and CEO Jim Owens. “This machine has helped build and rebuild the world, improving the lives of millions of people.”  

What began in 1904 as a converted wheeled, steam-powered machine fitted with wooden tracks, evolved into a product that would ultimately revolutionize agricultural and construction mechanization – ushering in the age of the track-type tractor.  Regarded as one of the 20th century’s greatest inventions, track-type tractors have cemented their place in history by being at the forefront of massive and majestic projects such as Hoover Dam, U.S. Interstate Highway System, Golden Gate Bridge, Trans Alaska Pipeline System, Saint Lawrence Seaway, English Channel Tunnel and Three Gorges Dam in China.

“Over the past 100 years, the Caterpillar track-type tractor has made an essential contribution to American and global progress,” commented Peter M. Holt, Chief Executive Officer of HOLT CAT and great grandson of Benjamin Holt.  “Still today, almost every structure in our modern society gets its start from these machines.”

The Holt Manufacturing Company’s merger with C.L. Best Tractor Co. into Caterpillar Tractor Co. in 1925 represents another major milestone in the evolution of the track-type machine.  Originally powered by steam, then gasoline and finally diesel, track-type tractors form the backbone of a Caterpillar product line that today comprises more than 300 different models of earthmoving machines, diesel engines, and gas turbines.  From its initial agricultural beginnings, track-type technology has far-reaching applications.

“Whether it’s working in our communities or in remote parts of the world, track-type machines have proven their value time and time again,” said Don Western, Caterpillar vice president with responsibility for the Track-Type Tractors Division.  “Our commitment to innovation will ensure that Caterpillar machines continue improving the lives of people around the world for many years to come.”

Track-type tractors are among the more than 2.2 million Cat machines working around the world today.  They are still made at a Caterpillar plant in East Peoria, Illinois, where they have been manufactured since 1910. 

“The invention of the track-type tractor was born of necessity,” commented Daniel G. Best, son of Caterpillar co-founder C.L. Best.  “For a century, these machines have been moving mountains, bending rivers and blazing trails, and leaving an indelible mark on history.”

For more than 75 years, Caterpillar Inc. has been building the world’s infrastructure and, in partnership with its worldwide dealer network, is driving positive and sustainable change on every continent.  With 2003 sales and revenues of $22.76 billion, Caterpillar is a technology leader and the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.