Caterpillar was founded in 1925 and was the first company to produce tractors with tracks instead of wheels. It serves various industries such as mining, construction, energy, and infrastructure. During recessions in the 1980s, Caterpillar closed factories and had worker strikes, but invested in modernizing factories and new technologies. It now has a variety of products from small pumps to large construction vehicles. Over half of its sales come from services. Caterpillar focuses on emerging markets like India and China and has global dealer networks to service customers locally. It aims to further target emerging countries and develop more fuel efficient and green technologies.