Caterpillar chief made USIBC directorApril 10th, 2008 - 12:39 pm ICT by admin
By Arun Kumar
Washington, April 10 (IANS) Richard P. Lavin, group president of the $45 billion Caterpillar Inc, the world’s leading manufacturer of construction and mining equipment, has been named to the board of the US-India Business Council (USIBC). Caterpillar has been a long time corporate member of the USIBC and continues to be a strong supporter of strategic ties between the US and India, said the USIBC, which represents 250 of the largest US companies investing in India and India’s 25 largest global companies.
“Richard’s appointment is an important and welcome addition to the USIBC board,” Pepsico chief Indra Nooyi said Wednesday. Nooyi is also chairman of the advocacy group seeking stronger commercial ties between the US and India.
“Rich brings deep international experience and strong business acumen. Throughout his career, Rich has held a number of key positions within Caterpillar especially in the corporation’s Asia Pacific region,” she said.
“I am honoured to accept this appointment on behalf of Caterpillar,” said Lavin. “We are executing an integrated enterprise strategy in India, which includes a strong focus on both growth and productivity. Our membership with USIBC is one of many elements which help facilitate that strategy.”
Lavin was appointed group president in December 2007. Previously, he served as vice president of manufacturing operations for the Asia Pacific Division, serving as chairman of Shin Caterpillar Mitsubishi Ltd and chairman of Caterpillar (China) Investment Co Ltd.
He had administrative responsibility for manufacturing operations in the region, including facilities in China, India and Indonesia.
He joined the company in 1984 as an attorney in what is now the Legal Services Division. He served in numerous positions in the company’s Asian and Latin American operations and was a product manager in Track-Type Tractors.
Rich has a bachelor’s degree from Western Illinois University and law degrees from Creighton University and Georgetown University. He also completed a Brookings Institute programme.
Caterpillar has been selling products to India since the 1930s. It began manufacturing there in the early 1970s. Today Caterpillar has more than a dozen locations in the country.
Its areas of operation cover marketing, engineering and logistics centres to manufacturing facilities producing engines, off-highway trucks and earthmoving equipment.
Combined with its dealer network, Caterpillar has nearly 4,500 employees in India, a number that will certainly grow in the coming years.
With 2007 sales and revenues of $44.958 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.
The company is also a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services.
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