Nashville, TN-based Caterpillar Financial Services Corporation, a wholly owned subsidiary of Caterpillar Inc., was one of seven organizations recognized by President Bush at a ceremony honoring recipients of the 2003 Malcolm Baldrige National Quality Award. Caterpillar Financial President Jim Beard joined Caterpillar Inc. Chairman and CEO Jim Owens in accepting the award on the company’s behalf.

The Malcolm Baldrige National Quality Award represents the nation’s top award for performance excellence and quality achievement. The award is given to U.S. organizations with exemplary achievements in seven areas –– leadership, strategic planning, customer and market focus, information and analysis, human resource focus, process management and results.

While several Tennessee companies have been honored in the past, including Federal Express and Eastman Chemical Company, Caterpillar Financial is the only Nashville-based company to receive the Malcolm Baldrige National Quality Award since its inception in 1987.

"It is an honor to accept this prestigious award representing an incredible group of individuals who, through hard work and determination, have improved our processes and the experiences of Caterpillar customers," Beard said. "Without them, I would not be standing here today."

In addition to Caterpillar Financial, the 2003 Baldrige Award winners include Medrad Inc., Indianola, PA (manufacturing); Boeing Aerospace Support St. Louis (service); Stoner Inc., Quarryville, PA (small business); Community Consolidated School District 15, Palatine, IL. (education); Baptist Hospital Inc., Pensacola, FL. (health care); and Saint Luke’s Hospital of Kansas City, Kansas City, MO (health care).

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