Engineering News-Record recognizes Betz for his leadership in the design of Caterpillar's ground breaking D7E electric drive track-type tractorPEORIA, Ill., Feb. 19 — (PRNewswire) — Caterpillar Inc. (NYSE: CAT) is pleased to announce Michael Betz has been selected as one of Engineering News-Record's (ENR) "Top 25 Newsmakers of the Year." Betz led the engineering team that researched and developed the D7E, the first electric drive track-type tractor in the industry. For the past 45 years, the editors of ENR have recognized 25 people each year for their innovations, achievements and services that advance the construction industry.
"It was an honor for me to be part of something so ground breaking for Caterpillar and the entire industry," said Betz. "And while I am receiving this recognition, I do so on behalf of the entire D7E team. It was a collaborative effort from the concept phase through production."
Among the many features, the D7E's revolutionary electric drive system offers a ten to 30-percent decrease in fuel consumption with 25 percent more material moved per gallon of fuel. The nearly ten-year project resulted in roughly 100 patents and other recognitions including the United States Environmental Protection Agency's Clean Air Excellence Award. The first D7E was shipped in December 2009.
"Mike represents the best and brightest of Team Caterpillar," said Doug Oberhelman, Caterpillar Vice Chairman. "I am continually amazed at the innovation and dedication of our Caterpillar employees who increasingly showcase their passion and commitment to the sustainability of our products and the environment as well."
Currently, Betz, 44, is an Engineering Technical Team Leader for Medium Tractor Products in Caterpillar's Earthmoving Division. He joined Caterpillar in 1988 and has served in a number of engineering roles focused in engine and machine validation. Born and raised in Galesburg, Illinois, Mike holds a bachelor's degree in mechanical engineering from Bradley University. He has also completed the Bradley University Management for the 21st Century program and has been awarded numerous patents for many different innovations. Mike and his wife, Kendra, reside in Knoxville, Illinois, with their two sons.
Engineering News-Record provides news, analysis, commentary and data to construction industry professionals. ENR covers issues such as business management, design, construction methods, technology, safety, law, legislation, environment and labor.
For more than 80 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2009 sales and revenues of $32.396 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at http://www.cat.com.
Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of Caterpillar Inc. to be different from those expressed or implied in the forward-looking statements. In this context, words such as "will," "would," "expect," "anticipate," "should" or other similar words and phrases often identify forward-looking statements made on behalf of Caterpillar. It is important to note that actual results of the company may differ materially from those described or implied in such forward-looking statements based on a number of factors and uncertainties, including, but not limited to, (i) adverse change in general economic conditions; (ii) adverse change in the industries Caterpillar serves including construction, infrastructure, mining, energy, marine and electric power generation; (iii) Caterpillar's ability to manage material, including steel, and freight costs; (iv) Caterpillar's ability to generate cash from operations, secure external funding for its operations and manage its liquidity needs; (v) material adverse change in customers' access to liquidity and capital; (vi) currency exchange or interest rates changes; (vii) political stability; (viii) market acceptance of the company's products and services; (ix) significant changes in the competitive environment; (x) epidemic diseases; (xi) severe change in weather conditions negatively impacting operations; (xii) changes in law, regulations and tax rates; and (xiii) other general economic, business and financing conditions and factors described in more detail in "Item 1A – Risk Factors" in Part II of our Form 10-Q filed with the SEC on October 30, 2009 for the 3rd quarter of 2009. This filing is available on our website at www.cat.com/sec_filings. We do not undertake to update our forward-looking statements.
SOURCE Caterpillar Inc.
Kate Kenny, Corporate Public Affairs of Caterpillar Inc.