Energy & Power Systems

In 2012, the Energy & Power Systems team delivered record results, making significant progress toward our 2015 goals.

We expanded capacity with the opening of a new Rail facility in Sete Lagoas, Brazil, and a new Solar Turbines facility in Zatec, Czech Republic. We continued to make great strides in integrating MWM into Caterpillar following our acquisition in 2011, ultimately enabling us to significantly expand customer options for sustainable power generation solutions. We made a number of exciting announcements as well, including a joint venture with Ariel Corporation to provide complete pressure-pumping solutions to global oil and gas customers and an agreement with Westport to develop natural gas technology for off-road equipment. We also added to our growing list of agreements with International Power Project (IPP) providers to develop temporary power solutions to meet the needs of the growing IPP segment.

I also marked a personal milestone with an announcement at the end of the year of my retirement after more than 37 years with the company. Earlier this year, Jim Umpleby assumed responsibility as group president with responsibility for Energy & Power Systems. I have tremendous confidence in Jim's ability to lead this business and continue to build on the successes we've achieved thus far. When it comes to our Energy & Power Systems businesses, we are in the right businesses at the right time, for a long time. Our potential is rock solid, and I look forward to the many great things to come from this group in the future.