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Business: Page 106
Business
CNH Industrial sales fall 10%, profit plummets in 2Q
CNH’s continued struggles with the global agricultural slowdown continued in the second quarter, compounded by decreased construction equipment sales. The company, manufacturer of the Case Construction and New Holland equipment brands, reported sales and revenues of $7 billion, down 10 percent from the same period in 2014. Profit plummeted 236 percent to $122 million. For the […]
August 4, 2015
Business
Construction spending inches up 0.1% in June
With no change to nonresidential spending, total construction spending in the U.S. saw its smallest gain in five months, according to preliminary estimates from the Commerce Department. The primary fuel for the industry’s huge spending growth in the last year or so has been nonresidential which was flat this month at $687 billion. Residential, meanwhile, […]
August 4, 2015
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Dealers
Liebherr celebrates distribution evolution, Manitou launches new website and more in the latest Dealer and Manufacturing Roundup
Applied Machinery expands with new office location Applied Machinery Sales is expanding with a new office location in Rock Hill, South Carolina. This new location has nearly 48,000 square feet of space and will support their growing dealer network. The new facility will house the company’s parts and attachments inventory, handle daily orders and provide […]
July 31, 2015
Business
Caterpillar will continue using Navistar engines in vocational truck line despite production split
Caterpillar has decided to amicably end its on-highway truck production partnership with Navistar and venture out on its own, moving production of the Cat CT-Series trucks, which The Wall Street Journal estimates to be about 1,000 units a year, to a shared production facility in Victoria, Texas. The plant currently produces Caterpillar hydraulic excavators and will add about 200 additional […]
July 29, 2015
Business
Caterpillar splits with Navistar, will design and build its own vocational trucks in Texas
Caterpillar has announced a parting of ways with truck maker Navistar, ending a six-year partnership between the two companies that launched the Cat brand into the vocational truck market. MORE >> Navistar to launch new line of severe duty work trucks once split with Cat is complete Cat has worked with Navistar to design and build […]
July 28, 2015
Business
Navistar to launch new line of severe duty work trucks once split with Cat is complete
With Caterpillar’s announcement this morning that it would begin designing and building vocational trucks on its own, Navistar, Cat’s partner in the work truck business up to this point, has announced plans to launch a new line of trucks once the partnership has officially concluded. In a brief announcement released alongside Cat’s news, Navistar said it would […]
July 28, 2015
Business
Caterpillar’s call for engagement with Cuba more than just a sly business move
Early this week Caterpillar sent out a press release calling for an end to the trade embargo against Cuba. This was in response to President Obama’s easing of sanctions and the announcement of an American embassy to be built in Havana. All of this is good news for Cuba and for us, and it demonstrates […]
July 24, 2015
Dealers
Terex launches used truck website and more in the latest Dealer and Manufacturing Roundup
Terex Trucks launches Used Trucks website Terex Trucks has partnered with Machinery Trader to develop a used trucks website which enables dealers to upload and advertise pre-owned trucks and construction equipment. Features on the website include an equipment search function, a dealer locator and a tool to receive free shipping and financing quotes. The new tool follows […]
July 24, 2015
Business
Caterpillar profits fall 29% in 2Q as company cuts full-year forecast
A continued and severe lack of demand for mining equipment worldwide, coupled with lower construction equipment sales in China and Brazil brought Caterpillar sales and profits down during the second quarter. In earnings released Thursday the company reported a decrease in sales and revenues of 13 percent to $12.3 billion and a 29-percent profit loss […]
July 23, 2015
Business
JCB at work on 3 more military projects following success of HMEE high-speed, armored backhoe
Ten years into a successful run of manufacturing a high-speed, armored backhoe for the U.S. Army, the machine’s impact is still being felt at JCB, and especially at the company’s North American headquarters in Savannah, Georgia. In a recent report from the Savannah Morning News, JCB detailed how it won its initial $206 million contract—the […]
July 22, 2015
Business
Volvo CE profit jumps 80% in 2Q thanks to big sales increases in North America
Following two consecutive quarters of large losses, Volvo Construction Equipment saw a huge increase in profit during the second quarter, mainly supported by increased sales in North America. Sales increased to 15.4 billion SEK ($1.8 billion), up 5 percent over 2Q 2014. Meanwhile, profit rocketed upward 80 percent to 1.35 billion SEK ($157 million). RELATED […]
July 20, 2015
Business
Home starts jump 9.8% as apartment construction reaches 28-year high
Thanks to a surge in new apartments, May’s decrease in home construction starts was followed up by a sizable increase in June. Construction on new homes jumped 9.8 percent in June to a rate of 1.174 million, according to preliminary data from the Commerce Department. The rate represents a 26.6-percent increase over June 2014 and the […]
July 17, 2015
Business
Former worker on Apple’s Campus 2 jobsite says tech giant expects iPhone-like level of detail from construction
In an exclusive interview with Business Insider, a person who worked on the construction of Apple’s spaceship-like Campus 2 project tells the publication the tech giant expects the same level of detail in the building’s construction as it does when designing and building the iPhone. According to the report, no expense is being spared on the […]
July 16, 2015
Roadbuilding
House Republicans say latest stopgap is best route to a long-term highway bill
With just two weeks to go before the Highway Trust Fund expires, Republicans in the House of Representatives have proposed yet another stopgap to fund transportation projects for another five months. The bill would provide $8.1 billion through December 18. The House plan was released by House Ways and Means Chairman Paul Ryan (R-Wisconsin) and Transportation and Infrastructure Chairman Bill […]
July 15, 2015
Roadbuilding
Holcim and Lafarge complete merger; LafargeHolcim to launch July 15
The merger of Holcim and Lafarge has been completed, and LafargeHolcim has emerged as the largest aggregate producer in the world. Holcim announced in a press release that all of the conditions to complete its merger with Lafarge were complete July 10 with the success of the public exchange offer. The merger completion activates the new Board of Directors and […]
July 14, 2015
Dealers
Lincoln Electric endows welding fund, a new H&E facility and more in the latest Dealer and Manufacturing News Roundup
Lincoln Electric endows Ohio State welding engineering program Cleveland-based Lincoln Electric and David Lincoln have co-funded the first endowed professorship in welding engineering at The Ohio State University. In addition to a $1 million donation, the company also donated or consigned approximately $420,000 worth of welding equipment and technology for use by Ohio State students […]
July 10, 2015
Business
Latest round of Caterpillar layoffs hits Pontiac fuel systems plant
After laying off nearly 200 workers at its East Peoria plant last month, Caterpillar has announced another wave of cuts, this time at its Pontiac, Michigan, plant. According to a report from the Peoria Journal Star, Cat will place 35 full-time employees at the plant, which manufactures fuel systems, on indefinite layoff and will fire another 10 […]
July 8, 2015
Business
Striking concrete workers halt work at 30 NYC construction sites
Concrete workers belonging to the New York City District Council of Carpenters have gone on strike, bringing work to a halt at an estimated 30 jobsites around the city. According to a report from Crain’s New York Business, the strike is the result of the ending of a collective bargaining agreement between the council and the Cement […]
July 3, 2015
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