Logistics division to remain wholly owned subsidiary, Cat says
Caterpillar responded Thursday to a media report suggesting the company was considering separating its logistics services division by saying it has no plans to change Cat Logistics’ status as a wholly owned subsidiary. Service businesses like Cat Logistics help provide the diversification to position Caterpillar for future success, said Steve Wunning, Caterpillar vice president and chairman of Cat Logistics. The business was established in 1987 to provide distribution and customer service throughout the world.
Thomas Industries acquires German pump, compressor manufacturer
Thomas Industries and German company Rietschle GmbH, manufacturers of pumps and compressors, have completed an agreement combining the two companies. Thomas agreed to pay $83 million in cash and 1.8 million shares of Thomas common stock in exchange for substantially all the assets of Rietschle. Rietschle products will continue to be sold under the Rietschle brand name.
Finlay Hydrascreens names Hoss authorized dealer
Hoss Equipment announced last week Finlay Hydrascreens has chosen it as an authorized dealer. Finlay, a Terex company, produces mobile screening systems for a range of applications involving sand and gravel, crushed stone, coal, topsoil, bark, salt and diamonds.
Wagner Equipment buys Rust Tractor
Colorado’s Wagner Equipment has purchased Rust Tractor, the Caterpillar heavy equipment and engine dealer for New Mexico and far west Texas. Wagner is in the process of integrating Rust’s operations and systems into its own. Most Rust employees at New Mexico store locations in Albuquerque, Hobbs and Farmington and in El Paso, Texas, have become part of Wagner and will continue to perform their current functions.
PEOPLE ON THE MOVE
Nye Manufacturing has appointed Mark Nye president. He has been with the company 26 years and has been involved in all aspects of operations and corporate management as vice president for the past 15 years. Nye is a custom attachment manufacturer.
Glen Tellock, president of Manitowoc Crane Group, has appointed his senior management team. New additions to the team are: Jeffrey Bust, executive vice president of Manitowoc Crane Group and chief executive officer of Grove Worldwide; Steve Cripe, controller of Manitowoc Crane Group; Larry Weyers, senior vice president – worldwide marketing and product support; and Pierre-Yves LeDaeron, general manager – aerial work platforms. Manitowoc has also appointed three regional managers to the company’s senior management structure. They are: Marty Lakes, executive vice president of North and South Americas; Jean-Yves Bouffault, executive vice president of Europe, the Middle East and Africa; and Eric Etchart, executive vice president of Asia and the Pacific region.
Detroit Diesel has appointed John J. (Jim) Morrow president. Prior to the appointment, Morrow was senior vice president of Aftermarket Sales and Remanufacturing Corporation and president of Detroit Diesel Remanufacturing Corporation. Morrow joined Detroit Diesel in 1967.