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Caterpillar Donates $500,000 for Preservation of Hemingway House in Cuba

The Finca Vigía Foundation is working with U.S. and Cuban partners to preserve one of the most significant monuments of American literature.

March 14, 2016 10:00 AM EDT

PEORIA, Ill., March 14, 2016 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) and the Caterpillar Foundation today announced a $500,000 donation to The Finca Vigía Foundation, a U.S. non-profit working in collaboration with Cuban cultural preservationists and other donors to restore and preserve Ernest Hemingway's home, documents and historical artifacts in Cuba. 

In accordance with U.S. and Cuba regulations, the donation will support the construction of an onsite conservation laboratory with archival storage facilities at the Hemingway Museum in Havana, known as the "Taller" building. The Taller is critically needed to ensure the safety and protection of the irreplaceable Hemingway artifacts and documents.

The Taller is the first construction project in Cuba to use modern U.S. building materials since the 55-year-old trade embargo began.

"Caterpillar is proud to be a part of this significant project, and we're committed to being a business and cultural partner with Cuba," said Doug Oberhelman, Caterpillar Chairman and CEO. "Because of our own deep history and rich heritage, we recognize the importance of preserving the rich Hemingway heritage that unites the American and Cuban people."

"Caterpillar's support of our work is tremendous," said Jenny Phillips, co-chair of the board of directors of The Finca Vigía Foundation. "Hemingway lived in Cuba for the last 22 years of his life. It is where he collected his life's work: correspondence, galley proofs, manuscripts, thousands of photographs...the collection is astounding. Caterpillar's vision to contribute to the construction of conservation laboratories and provide archival storage will allow Hemingway's legacy to be preserved for generations to come." 

In addition, Caterpillar's contribution will enhance workforce readiness by providing mentoring and leadership to the skilled Cuban workers assisting with the project.

"The Caterpillar Foundation is focused on building sustainable, thriving communities around the world," said Caterpillar Foundation President Michele Sullivan. "We believe no one organization, group or person can do it alone when it comes to creating such sustainable change. We commend The Finca Vigía Foundation for their long-standing collaboration with the U.S. and Cuban governments and other partners to ultimately help build economic vitality and jobs. When we work together, we are stronger," continued Sullivan. 

Last month, Caterpillar announced Rimco would become the Cat dealer for Cuba, an important step in the company's preparations to best serve the Cuban marketplace with construction and mining equipment, power systems, marine and industrial engines.

About CaterpillarFor 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2015 sales and revenues of $47.011 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments - Construction Industries, Resource Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media

About Caterpillar FoundationFounded in 1952, Caterpillar's philanthropic organization, the Caterpillar Foundation has contributed more than $650 million to help make sustainable progress possible around the world by providing program support in the areas of environmental sustainability, access to education and basic human needs. To learn more about the global impact of the Caterpillar Foundation, please visit www.caterpillarfoundation.org

Forward-looking StatementsCertain 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," "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 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) government monetary or fiscal policies and infrastructure spending; (iii) commodity price changes, component price increases, fluctuations in demand for our products or significant shortages of component products; (iv) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (v) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (vi) 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; (vii) our Financial Products segment's risks associated with the financial services industry; (viii) changes in interest rates or market liquidity conditions; (ix) an increase in delinquencies, repossessions or net losses of Cat Financial's customers; (x) new regulations or changes in financial services regulations; (xi) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xii) international trade policies and their impact on demand for our products and our competitive position; (xiii) our ability to develop, produce and market quality products that meet our customers' needs; (xiv) the impact of the highly competitive environment in which we operate on our sales and pricing; (xv) failure to realize all of the anticipated benefits from initiatives to increase our productivity, efficiency and cash flow and to reduce costs; (xvi) additional restructuring costs or a failure to realize anticipated savings or benefits from past or future cost reduction actions; (xvii) inventory management decisions and sourcing practices of our dealers and our OEM customers; (xviii) compliance with environmental laws and regulations; (xix) alleged or actual violations of trade or anti-corruption laws and regulations; (xx) additional tax expense or exposure; (xxi) currency fluctuations; (xxii) our or Cat Financial's compliance with financial covenants; (xxiii) increased pension plan funding obligations; (xxiv) union disputes or other employee relations issues; (xxv) significant legal proceedings, claims, lawsuits or government investigations; (xxvi) changes in accounting standards; (xxvii) failure or breach of IT security; (xxviii) adverse effects of unexpected events including natural disasters; and (xx ix) other factors described in more detail under "Item 1A. Risk Factors" in our Form 10-K filed with the SEC on February 16, 2016 for the year ended December 31, 2015.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/caterpillar-donates-500000-for-preservation-of-hemingway-house-in-cuba-300235217.html

SOURCE Caterpillar Inc.



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