Tag: business: Page 65

Business

Construction fuel consumption dips 0.9% in March

Fuel consumption by the construction industry fell month-t0-month in March by 0.9 percent, according to the latest WEX Construction Fuel Consumption Index. Annually, the index expanded and was up by 1.9 percent over March 2012. That marks the sixth consecutive month of annual growth for the index. The index measures national fuel consumption statistics for the […]

May 10, 2013

Business

U.S. rental construction, lack of first-time home buyers a sign of “inferior housing recovery”?

Despite recent dips in construction spending and employment, the mood in the industry is, well, better. Better than it was last year anyway as 151,000 jobs have been added since then, the unemployment rate is down to 13.2 percent and spending is up 5 percent. As we’ve noted before, a lot of this has to […]

May 8, 2013

Business

Caterpillar to layoff 300 at mining facility in Illinois, close tunneling plant in Toronto

In the wake of a first quarter that saw profits tumble 45 percent, mostly due to low demand for mining equipment, Caterpillar continues to make moves to rectify the situation announcing layoffs in Illinois and a plant closing in Toronto. Neither of the moves will affect the company’s earthmoving business. After announcing a round of 500 […]

May 6, 2013

Business

Construction University eases transition from jobsite to the office

It’s a common story: After working in construction awhile—sometimes with family, sometimes not—a guy or gal wants to strike out on their own. And so they buy, or rent, that first machine. The weekend jobs turn into steady work, either gradually or right off. Instead of one beater machine, the newly-minted contractor starts to gain […]

May 3, 2013

Business

Construction spending dips 1.7% in March due to drop in government building; up 4.9% annually

According to data released by the U.S. Commerce Department Wednesday, construction spending dropped 1.7 percent during March to its lowest mark since August 2012. Following a housing-fueled boost of 1.2 percent in February, construction spending was measured in March at a seasonally adjusted annual rate of $856.7 billion. According to the data, the monthly drop, […]

May 1, 2013

Business

Rent, buy or lease? The crucial answer to your next equipment purchase

Ready for a new dozer, excavator, forklift or other piece of heavy equipment? Construction activity has started to pick up but is in a slow climb. In this atmosphere, is it better to rent, purchase or lease? That depends on a variety of factors, according to Peter D. Gregory, senior vice president of the Construction […]

May 1, 2013

Business

CNH reports increased first-quarter profits and sales despite sharp decline in construction equipment

Equipment manufacturer CNH Global announced its first-quarter financial results this morning with the positive news of increases in both sales and operating profits. During the first three months of the year, CNH saw sales of $4.7 billion, an increase of 1 percent over the $4.64 billion the company reported last year at the same time. […]

April 30, 2013

Business

Volvo Construction Equipment first-quarter profits tumble 76%, sales down 32%

While the company was happy to see its profitability improve from the fourth quarter, Volvo Construction Equipment’s first-quarter operating income plummeted 76 percent from the same period a year ago. The company reports that it was hurt by declines in each market and a sharp decline in mining sector demand. Volvo reported first-quarter operating profits […]

April 26, 2013

Business

Terex sees increased operating profits despite first-quarter sales falling 5.3%

In the first quarter of the year Terex saw net sales drop 5.3 percent from the same period last year to $1.7 billion. Nonetheless, the company saw an increase in operating profits. After deducting operating costs, Terex profits were at $68.4 million the first quarter. That’s a 7 percent increase from the $63.8 million in […]

April 25, 2013

Business

Caterpillar first-quarter profits fall 45% due to inventory cuts, low mining demand

A steep decline in demand for mining equipment coupled with reductions in inventory are to blame for Caterpillar’s slumping first-quarter financial results, the company reports. The company reported a profit of $880 million in the first quarter of 2013, a 45-percent tumble from the $1.586 billion the company pulled in the first quarter of 2012. Sales […]

April 23, 2013

Business

Terex CEO discusses roadbuilding sale at Bauma, says company “not looking to be another Cat or Volvo”

Today at Bauma, Terex Chairman and CEO Ron DeFeo gave the press a briefing on where the company currently stands and where it wants to go in the future. While the company was built on acquisitions in the past—most recently Demag cranes in Germany—DeFeo said that he’s not at the show on a shopping expedition. Asked […]

April 17, 2013

Business

Caterpillar CEO talks hybrid tech, rental business at Bauma

Noting that the 2010 Icelandic volcano prevented him from attending the last Bauma show, Doug Oberhelman, Caterpillar president and CEO, used that circumstance as an example of how much technology has advanced in just three years during remarks made today at the international trade show. “Then, we were scrambling to get a satellite feed. Now, […]

April 16, 2013