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Caterpillar Inc. will likely take a break from acquisitions after reaching three large deals in the past year, executives at the world’s largest maker of heavy equipment said.
The company will be focused on closing its $7.6 billion takeover of mining equipment maker Bucyrus International, and then on integrating that new operation into the rest of its business, Chief Executive Doug Oberhelman said. Get the full story »
Heavy-equipment maker Caterpillar Inc. says it is considering selling off part of its logistics subsidiary, so it can focus on its core business. Get the full story »
Asia’s mills lead the world’s crude steel production rate to a new record in February, the World Steel Association said Monday, as demand from economic recovery gathered pace.
Output in the West edged up but lagged pre-recession levels, World Steel said. Get the full story »
Diversified U.S. manufacturer Illinois Tool Works Inc said Monday its sales in the three months through February were up 11 percent, and the company repeated its annual and quarterly earnings forecasts. Get the full story »
Deere & Co. said Friday it expects delivery delays for some construction excavators built under a joint venture with Japanese equipment manufacturer Hitachi. Get the full story »
Caterpillar Inc. said disruptions in its supply chain in Japan could sporadically affect the company’s assembly plants elsewhere in the world.
The Peoria-based manufacturer of construction equipment said Friday it is attempting to secure alternative sources for components produced by Japanese-based suppliers in case they aren’t able to provide sufficient volumes of components in the aftermath of last week’s earthquake and tsunami in northeast Japan. Get the full story »
A Japanese company making galleys for the long-awaited Boeing 787 Dreamliner said delivery of the component could be delayed if gasoline becomes even more scarce after last week’s earthquake and tsunami. Get the full story »
General Electric Co. paid Jeffrey Immelt a $4 million cash bonus in 2010, after two years when the chief executive of the largest U.S. conglomerate declined a payout in the face of sliding profits. Get the full story »
Boeing Co. is on track to deliver the long-delayed 787 Dreamliner to its first customer in the third quarter, the head of the 787 program said Friday.
Speaking to reporters at Boeing’s San Antonio site, Scott Fancher said he could not attribute any canceled 787 orders to delays that have put the program nearly three years behind schedule. Get the full story »
Tomy Co. plans to buy major U.S. toymaker RC2 Corp. for an estimated 50 billion yen ($604 million) to offset dwindling domestic demand, Japanese newspaper The Nikkei reported early Friday.
Tomy, which will make an announcement as soon as Friday, is likely to mount a tender offer for RC2. If successful, it will be one of the largest overseas acquisitions by a Japanese toymaker. Get the full story »
Johnson & Johnson’s McNeil division, beset by an unstemmed tide of consumer product recalls, said Thursday that it had finalized a consent decree that would put three of its manufacturing facilities under supervision of U.S. health authorities.
McNeil said in a statement it had finalized the terms of a consent decree with the Food and Drug Administration for its facilities in Las Piedras, Puerto Rico, and Fort Washington and Lancaster, Pa. Get the full story »
A John Deere combine being worked on in Hampshire, Ill. Moline-based Deere hopes to expand its product line in Russia. (Photo by Scott Olson/Getty Images)
Moline, Ill.-based Deere & Co. will double the manufacturing space at a factory near Moscow and start its own leasing company in Russia, the world’s largest maker of agricultural equipment said Thursday.
The announcement was made as Deere Chairman and CEO Samuel Allen joined other CEOs and Vice President Joe Biden at an investment conference in Russia.
The investment at the Domodedovo factory will help the company expand its product line in Russia, adding new equipment such as log forwarders, which load and haul logs and are widely used in the Russian forestry industry, Deere said in a statement. Get the full story »
When it comes to protecting consumers, American politicians in China don’t always practice what they preach, unpublished U.S. diplomatic cables show.
In 2007, two U.S. congressmen private admonished a Chinese official about the spike in potentially harmful made-in-China products being shipped around the world, according to a cable from the U.S. embassy in Beijing obtained by WikiLeaks and provided to Reuters by a third party. Get the full story »
Truckmaker Navistar International raised its forecast for the North American market and said it was on track to reach the high end of 2011 profit target, sending its shares up nearly 4 percent.
The improved forecast on Wednesday overshadowed a first-quarter profit that missed analysts’ expectations as truck margins disappointed. Get the full story »
From the Springfield News-Leader | The Solo Cup Co. plant in Springfield, Mo. shut down its manufacturing Wednesday after nearly 60 years of operations. Lake Forest-based Solo announced plans to close the plant in June 2010. The shutdown puts about 340 people out of work. | Get the full story>>
