Agreement Introduces the Cat Brand to the Next Generation of Doers
DEERFIELD, Ill., May 26, 2022 /CNW/ -- Caterpillar Inc. (NYSE: CAT) today announced a multi-year sponsorship with Major League Soccer (MLS), the fastest growing sports League in North America. With the highest percentage of millennial and multicultural fans of any U.S. sport, the sponsorship is designed to amplify the Caterpillar brand to a broader, more diverse audience in the United States and Canada and to engage with the League's passionate fans more deeply.
"Caterpillar is eager to partner with Major League Soccer, as we share a joint commitment to being leaders in the communities where we live, work and play," said Yvette Morrison, global director of marketing and brand for Caterpillar. "We celebrate the people who do the work every day and are constantly looking for new ways to engage with our next generation of employees, customers and their families. This sponsorship provides a perfect opportunity for us to introduce Cat to a broader audience."
"Caterpillar is a leading, global brand and Major League Soccer is honored to partner with a company whose values and dealer network are committed to building a better, more modern future for soccer communities across the world," said Carter Ladd, Executive Vice President of Brand Alliances & Consumer Products at MLS. "Together, MLS and Caterpillar will engage long-standing customers and the most diverse fanbase in all of sports to positively impact the sport of soccer in the U.S. and Canada."
MLS features the youngest and most diverse player pool of any of North American professional sports league with players from more than 82 countries. The sponsorship of MLS supports Caterpillar's efforts to evolve the brand, and ensure the company is representative of the many employees and customers it serves.
As a part of the sponsorship, MLS will collaborate with Caterpillar to integrate Cat® products into the soccer ecosystem. Cat dealers will also have access to exclusive soccer experiences for their operators and customers as well as their families.
Caterpillar recently collaborated with MLS in development of Cat Trials 12: No Hands, which features U.S. and International Federation of Association Football (FIFA) World Cup soccer legend, DaMarcus Beasley, teaming up with autonomous Cat equipment to make a trick shot. The Cat Trials 12 video can be viewed at http://www.cat.com/trial12.
For more information about Caterpillar's sponsorship of MLS and other corporate sponsorships, please visit https://www.caterpillar.com/en/company/working-together/sponsorships.html.
With 2021 sales and revenues of $51.0 billion, Caterpillar Inc. is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we've been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels.
About Major League Soccer
Headquartered in New York City, Major League Soccer – celebrating its 27th season in 2022 – features 29 clubs throughout the United States and Canada, including 2022 expansion team Charlotte FC and St. Louis City SC, which debuts in 2023. For more information about MLS, visit www.MLSsoccer.com.
Certain statements in this press release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "forecast," "target," "guide," "project," "intend," "could," "should" or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance and speak only as of the date they are made, and we do not undertake to update our forward-looking statements.
Caterpillar's actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global and regional economic conditions and economic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (v) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; (vi) our ability to develop, produce and market quality products that meet our customers' needs; (vii) the impact of the highly competitive environment in which we operate on our sales and pricing; (viii) information technology security threats and computer crime; (ix) inventory management decisions and sourcing practices of our dealers and our OEM customers; (x) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xi) union disputes or other employee relations issues; (xii) adverse effects of unexpected events; (xiii) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xiv) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (xv) our Financial Products segment's risks associated with the financial services industry; (xvi) changes in interest rates or market liquidity conditions; (xvii) an increase in delinquencies, repossessions or net losses of Cat Financial's customers; (xviii) currency fluctuations; (xix) our or Cat Financial's compliance with financial and other restrictive covenants in debt agreements; (xx) increased pension plan funding obligations; (xxi) alleged or actual violations of trade or anti-corruption laws and regulations; (xxii) additional tax expense or exposure, including the impact of U.S. tax reform; (xxiii) significant legal proceedings, claims, lawsuits or government investigations; (xxiv) new regulations or changes in financial services regulations; (xxv) compliance with environmental laws and regulations; (xxvi) the duration and geographic spread of, business disruptions caused by, and the overall global economic impact of, the COVID-19 pandemic; and (xxvii) other factors described in more detail in Caterpillar's Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.
SOURCE Caterpillar Inc.