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Heavy equipment maker Caterpillar Inc. said Monday that received a contract worth up to $641 million to build earth-moving tractor scrapers for the Defense Department.
It’s the largest single award from the department that the Peoria-based company has received, the company said in a statement. Get the full story »
Caterpillar says its machine sales in August leaped 37 percent worldwide in August, led by surging sales in Latin and North America.
Caterpillar Inc. has formally opened a $140 million road grader plant in central Arkansas, a factory that the company built even though the economy went through the floor after it announced its intentions.
Caterpillar laid off 24,000 workers worldwide last year, but the North Little Rock plant stayed on course. Company officials say highway projects funded by stimulus money helped build demand for the new road graders.
Caterpillar Inc. plans to spend about $180 million to expand its manufacturing capacity in Brazil and meet growing demand in Latin America.
The world’s largest maker of construction and mining equipment said Wednesday that it had purchased an existing manufacturing plant in Campo Largo, Brazil, and over the next two years, it plans to expand its existing plant at Piracicaba, Brazil.
As U.S. companies shed millions of workers during the recession, the CEOs who laid off the most people brought home pay that was significantly higher than that of their peers, according to a Washington, D.C. think tank study.
The CEOs of the 50 U.S. companies that laid off the most workers between November 2008 and April 2010 were paid $12 million on average in 2009, or 42 percent more than the average across the Standard & Poor’s 500, the Institute for Policy Studies study said. Get the full story »
Caterpillar Inc. officials said Thursday they don’t expect a double-dip recession because the world’s central banks haven’t made major errors and the economy has been improving throughout 2010, especially in the developing world.
New CEO Doug Oberhelman and other executives met with analysts in New York and discussed the opportunities ahead for the world’s largest maker of construction and mining equipment. The Peoria, Ill.-based company also affirmed its long-term profit goals.
“We don’t think the world has ended,” said Oberhelman, who has been with Caterpillar since 1975. “We think there is going to be fantastic growth in our industry in the future.”
Caterpillar Inc. says sales of its yellow-and-black equipment improved 32 percent in July when strong sales in Asia and North America drove the firm’s third-straight positive month.
Caterpillar is disclosing its monthly sales figures in a filing with the Securities and Exchange Commission. They are considered an indicator of global economic health because Caterpillar is the largest maker of construction and mining equipment.
Caterpillar Inc., the world’s largest maker of construction equipment, unveiled plans for its fourth U.S. expansion project in two weeks, providing much-needed jobs in a limp employment market while allowing the company to strategically place plants in lower-cost regions.
The new facility, a $120 million plant to make excavator machines in Victoria, Texas, will take on production of some equipment currently made in Illinois and Japan. Get the full story »
Caterpillar Inc. plans to open an engineering office in South Dakota that is expected to employ up to 100 people in five years, the construction equipment company said Tuesday. Get the full story »
Heavy-equipment manufacturer Caterpillar Inc. said Friday it will build a parts plant for large mining machines in North Carolina, and it expects to employ about 510 full-time and contract workers in five years.
Construction is scheduled to begin in November on the Winston-Salem factory where workers will machine, assemble, test and paint axle assemblies for large mining machines. Production is expected to begin in the first quarter of 2012. Get the full story »
Caterpillar Inc. reported a stronger-than-expected quarterly profit Thursday, and raised its full-year outlook, citing continued strong sales growth in emerging markets. The world’s largest maker of construction and mining equipment posted a second-quarter profit of $707 million, or $1.09 a share, up from $371 million, or 60 cents a share, a year earlier. Get the full story »
Caterpillar Inc. announced Tuesday plans to open a new manufacturing plant in Brazil to meet growing customer demand in Latin America.
The Peoria-based company said the new facility will produce backhoe loaders and small wheel loaders, which are now made in Piracicaba, in the southeast part of the country. Get the full story »
Caterpillar Inc. said on Monday that it had broken ground in Xuzhou, China, for a plant that would build large excavators and that it had opened a plant there to make small and medium-size excavators.
Excavators are modern-day steam-shovels. They often have buckets and are used by builders to dig in confined areas.
Get the full story »
Caterpillar Inc. and Wacker Neuson SE, Munich, Germany said today they will work together on the design, manufacture, sale and support of Caterpillar mini hydraulic excavators in the under three-ton category. Get the full story »
From Crain’s Chicago Business | Electro-Motive Diesel Inc. is considering McCook as a location for a new locomotive plant, sources told Crain’s.
