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Business: Page 106
Business
Wisconsin contractor is a role model for the industry and his community
Although different contractors can have vastly different motivators, the successful ones all share a similar internal drive – one that spurs them on to not only provide a comfortable life for themselves and their families, but to also be at the top of their game. For Sean McDowell of McDowell Construction in Menomonee Falls, Wisconsin, […]
November 17, 2015
Dealers
Finning, world’s largest Cat dealer, to cut 1,100 jobs due to weak equipment sales
In the face of slumping demand, Canadian Caterpillar dealer Finning International Inc. has announced it will make significant workforce reductions to cut costs. Finning will cut approximately 1,100 employees—8 percent of its workforce. The company says by the end of 2015 it will have reduced its workforce by 13 percent or 1,900 employees. Since mid-2013 […]
November 16, 2015
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Business
Liebherr expects 2015 sales to top $10 billion; U.S. sales growth at 17.9% for first half
Speaking at a press event in England, Stefan Heissler, member of the directorate of Liebherr International, said the privately-held company expects to have sales of €9.2 billion ($10.15 billion) in 2015. The diverse company—which manufacturers a mix of products such as home appliances and maritime cranes in addition to earthmoving, mining, construction cranes and concrete […]
November 9, 2015
Roadbuilding
Senate passes bill to block EPA’s controversial clean water rule
The U.S. Senate has voted to block the implementation of the Environmental Protection Agency’s Waters of the United States rule, according to The Hill. However, the vote doesn’t mean those in the construction and aggregates industries who opposed the rule can rest easily quite yet. The bill was blocked with a Congressional Review Act resolution, which passed 53-44. […]
November 4, 2015
Business
Continued homebuilding gains boost construction spending 0.6% in September
Sizable gains in homebuilding again led to an increase in total U.S. construction spending in September. Construction spending increased 0.6 percent to $1.094 trillion during the month, according to preliminary data from the Commerce Department. Total spending is up 14.1 percent year over year. Private homebuilding increased 1.9 percent to $395 billion and is now […]
November 2, 2015
Business
Thousands of Caterpillar employees take early retirement as cuts continue
As Caterpillar begins its extensive workforce cuts around the world, thousands of employees have decided to take an offer of early retirement. Since announcing a cost-cutting plan in September, Caterpillar has laid off hundreds at its East Peoria plant and announced the closing of its global mining headquarters. And with the possibility that the workforce cuts […]
October 28, 2015
Business
Terex profit falls 24% in 3Q as sales slip across divisions
Citing a marketplace that “remains challenging,” Terex announced another down quarter for the year, with its Aerial Work Platforms division continuing to provide the majority of positive news for the company. Sales for the company fell 9.3 percent from third quarter 2014 to $1.6 billion while profit fell 24 percent to $44.8 million. “As mentioned last quarter, we are […]
October 27, 2015
Business
Volvo CE reports increased market share despite sales, profit drops in 3Q
Despite continued growth in the North American market, Volvo Construction Equipment sales and profit dipped during the third quarter. The manufacturer saw 11.84 billion SEK in sales ($1.4 billion) during the quarter, down 5.5 percent from Q3 2014. However, even with the lower demand, Volvo says it grew market share among larger machines during the quarter. […]
October 26, 2015
Business
Caterpillar CEO voices confidence in strength of key industries despite 64% profit decline in 3Q
After preparing everyone last month for the likelihood of continued bad news on the financial front with the launch of an extensive cost-cutting plan, Caterpillar has announced another down quarter with double digit decreases to both sales and profit. Cat sales and revenues fell to $11 billion during the third quarter, a decrease of 19 […]
October 23, 2015
Business
Kubota breaks ground on new corporate HQ in Texas
On Monday, Kubota Tractor Corporation broke ground at the new location of its corporate headquarters in Texas. Located in Grapevine, near Fort Worth, Kubota says the three-story office building will be approximately 125,000 square feet in addition to a 68,000 square-foot research and development facility. The new $51 million HQ is expected to be completed by […]
October 21, 2015
Business
Charles Machine Works veteran Kevin Smith tapped as next president of HammerHead Trenchless
A longtime veteran at parent company Charles Machine Works (CMW), Kevin Smith has been named the new president of HammerHead Trenchless. Smith assumes leadership of HammerHead after serving as president of MTI Equipment, also a CMW-owned company. HammerHead primarily offers solutions for the installation, replacement, and maintenance of underground utility pipe and cable, but the […]
October 15, 2015
Business
Construction firms paying their bills earlier the latest indicator of U.S. industry’s strength
Calling the findings evidence of a clear “upswing” in the U.S. construction industry, a U.K.-based credit reporting agency says American construction firms are, on average, paying their bills earlier than they were last time. According to a report from the Wall Street Journal, Creditsafe Inc. assessed roughly 1.7 million U.S. construction firms and found that they […]
October 12, 2015
Business
Caterpillar to cut 230 workers in East Peoria; may move Joliet parts production to Mexico
The first workforce cuts of Caterpillar’s recently announced, extensive cost-cutting plan will come at the company’s East Peoria, Illinois plant. According to a report from the Peoria Journal Star, Cat will lay off 230 employees in East Peoria. The announcement came days after the company announced that it would cut as many as 10,000 jobs from its global workforce […]
October 7, 2015
Business
Spreading his love for the work has been key to this California excavation contractor’s success
Although a star football player in high school, Dave Spurr had the sense to realize that only a rare few ever rise to the top in that profession. When he looked around at where he might make his mark, construction seemed a good bet. Out of high school, Spurr built houses, drove the water truck […]
October 6, 2015
Business
Ditch Witch, Vermeer team up with Ericsson to recruit horizontal directional workers to meet massive telecom fiber needs
In an effort to meet massive telecom fiber construction needs, telecom services provider Ericsson is joining with Ditch Witch and Vermeer to create a template to recruit, train and deploy multiple trenchless crews in major metropolitan areas across the United States. The companies made the joint announcement this morning at the ICUEE trade show in […]
September 30, 2015
Business
Ditch Witch sees double-digit growth this year as market for 30,000-pound-and-below drills grows
“The utility markets inside the United States are extremely strong, and we’ve seen our sales up by double digits,” said Dennis Wierzbicki, who took the helm of the Ditch Witch brand nine months ago. The primary drivers: home and utility construction. “We see both being very strong though 2016,” Wierzbicki added. “We’re excited about the […]
September 29, 2015
Business
Caterpillar mining VP retires amid leadership shakeup
Chris Curfman, the chief mining executive at Caterpillar, will retire at the end of the year, ending a more than 20-year career at the company. Caterpillar announced the move this week amid big changes for the company, including a massive $1.5 billion cost reduction plan and a restructuring of leadership within the Mining Sales and Support Division, […]
September 25, 2015
Business
Caterpillar plans up to 10,000 job cuts as part of extensive $1.5 billion cost reduction plan
In the midst of a third straight year of down sales and revenues, Caterpillar has announced further cost cutting and restructuring in order to lessen the impact of what will likely be off a fourth-straight down year in 2016—a first in the company’s nearly century-long history. Planning large workforce cuts and the consolidation and closures of its […]
September 24, 2015
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