The capital goods field is made up of a variety of companies that specialize in producing long-term assets such as machinery, equipment and other tools used to create products. These types of companies are typically involved in the manufacturing process, providing the necessary resources for businesses to manufacture their products. Some examples of well known firms in this sector include Caterpillar, Cummins, General Electric Company (GE), Honeywell International Inc., Ingersoll-Rand Plc., John Deere Company and 3M Co. Each one specializes in different areas within the capital goods sector; for instance GE provides electrical power systems while Caterpillar manufactures construction and mining equipment. These businesses usually work closely with other specialized partners to create integrated production processes that can help reduce costs associated with product creation. Additionally, many larger companies have developed their own proprietary technologies which help them stay competitive against smaller competitors who don’t have access to such innovations.