Oberhelman said Caterpillar needs to deliver compound annual earnings per share growth of 15% to 20%.
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"There is no product overlap today, they make large hydraulic shovels, we make hydraulic excavators, " said Oberhelman.
Attendees of that meeting include Greg Brown from Motorola Solutions, Douglas Oberhelman from Caterpillar, and Virginia Rometty from IBM Corporation.
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As Oberhelman spoke, a defunct video-distribution company in Hong Kong was finalizing a reverse merger that would come to haunt Caterpillar.
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Doug Oberhelman, chief executive of Caterpillar Inc.
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