Caterpillar Kicks Off its Next 100 Years of Innovation and Industry Leadership
Caterpillar Inc. (NYSE: CAT) recently marked its 100th anniversary with celebrations throughout the U.S. that commemorate a monumental moment in the company’s history. The iconic manufacturing company officially turns 100 on April 15, marking a century of customer-centric innovation and industry-leading transformation. The Holt Manufacturing Company and the C.L. Best Tractor Co. merged to form what was then known as the Caterpillar Tractor Co. in 1925. From the company’s first track-type tractor designed to pull combine harvesters in Northern California to autonomous construction and mining equipment and engines that power the world today, Caterpillar products and services have helped its customers complete infrastructure projects that have shaped the modern world.
“Our success over the last 100 years is a testament to the hard work and dedication of our employees, the continued trust of our customers and the support of our dealers and business partners,” said Caterpillar Chairman and CEO Jim Umpleby. “I am proud to lead such a strong team, and I’m confident Caterpillar will continue to help our customers build a better, more sustainable world over the next 100 years.”
Celebrations took place in Sanford, North Carolina and Peoria, Illinois. At the company’s global headquarters in Irving, Texas, the families of company founders C.L. Best and Benjamin Holt will gather with company leaders and employees to celebrate the first 100 years of innovation as Caterpillar begins its journey into the next century. The Centennial World Tour embarked on its journey to visit Caterpillar facilities around the world and provide an interactive and immersive experience for employees and visitors. The company is also commemorating the milestone with limited-edition “Centennial Grey” painted machines available for purchase in 2025. Caterpillar invites its global employees, customers and stakeholders to join in its 100th anniversary celebrations all year long. To learn more about Caterpillar’s 100th anniversary, visit www.caterpillar.com/100
SANY India Inaugurates State-of-the-Art Factory Expansion to Maximize Production Accuracy
SANY India, a leading manufacturer of construction equipment, has inaugurated a state-of-the-art factory at its sprawling 90-acre manufacturing facility in Pune. This expansion is a significant stride in enhancing production capacity & localized manufacturing in India. Further reinforcing SANYRs.s commitment to the Indian market and developing India as a global sourcing hub.
Designed with advanced, process-driven manufacturing methodologies, the new facility is a testament to SANY India’s focus on delivering high-quality, reliable products tailored to diverse customer needs. With an annual production capacity exceeding 14,000 units, the facility also supports a robust fabrication capacity over 100,000 metric tons per year. These capabilities position SANY India to efficiently cater to increasing demands across construction, mining, and energy sectors in India and overseas while maintaining flexibility and accuracy in its operations.
The inauguration ceremony, held at Sany India’s Pune facility, was graced by Mr. Xiang Wenbo, Chairman of SANY Group, who was joined by senior leadership team. Together, they unveiled the new production facility, designed to support Sany India’s mission of enhancing its product offerings and delivery timelines.
Speaking at the inauguration, Xiang Wenbo, Chairman of SANY Group, emphasized the strategic importance of the expanded facility. He stated, “This new factory represents a significant step forward in our commitment to delivering world-class products with utmost precision. By incorporating the latest manufacturing technologies, we are positioning ourselves to meet both the challenges of today and the demands of tomorrow.”
Mr. Wenbo further underscored India’s long-term potential, describing the country as a critical operational hub for SANY’s overseas business and a cornerstone of the company’s global strategy. Adding to this, Deepak Garg, Vice Chairman & Managing Director, SANY India, remarked, “The inauguration of our new factory Expansion represents a significant leap in SANY India’s manufacturing capabilities. This facility also supports our commitment to the Prime Minister’s vision of ‘Make in India’ by enhancing exports to key markets and driving increased localization in our manufacturing processes. These efforts not only boost India’s manufacturing prowess but also strengthen our role in the nation’s infrastructure development story.”
This investment not only enhances production efficiency but also underscores SANY India’s focus on streamlined operations, reduced timelines, and superior customer satisfaction.
As a leader in the heavy equipment industry, SANY India continues to set benchmarks for innovation and excellence. With this expansion, the company reinforces its position as a key driver of India’s infrastructure development, meeting the evolving needs of a dynamic and competitive market.
Transition to CEV-V emission norms, coupled with new safety standards to drive a 12-15% cost surge for Construction Equipment manufacturers
The Indian Construction Equipment (CEV) industry transitioned to CEV Stage V emission standards for non-road diesel engines w.e.f. January 1, 2025. Additionally, multiple safety requirements, as contained in Automotive Industry Standard (AIS)-160 and more stringent noise levels (for operator and pass-by), also became effective from January 1, 2025. Cumulatively, these changes are expected to push up the average cost of equipment by 12-15%, which will likely be passed on to the customer over the next 12-18 months. Despite the near-term impact on CEV affordability and demand, the benefits of these changes are likely to outweigh through better equipment safety, operator comfort and export potential to developed markets for the sector. The regulation permits CEVs manufactured till December 31, 2024 (with earlier emission and safety norms) can be also sold in the domestic market till June 30, 2025. Consequently, the pre-buying (due to anticipated price hikes) is likely to be mainly concentrated in Q1 FY2026, supporting volume growth in next fiscal.
In 8m FY2025, the domestic CEV sales volumes witnessed a 2% YoY growth. ICRA expects 0-2% YoY growth in industry volumes for the full fiscal 2025, and relatively better 4-7% YoY growth in FY2026. The volume growth in the next fiscal remains contingent on GoI’s capex outlay on key infrastructure development schemes and timely pick-up in awarding activity.
