Tag: manufacturers: Page 2

Business

Navistar sued by federal government for withholding documents from investigation

The Securities and Exchange Commission filed in December a lawsuit against Navistar International Corp. claiming the truck and engine maker improperly redacted and withheld documents the Commission attempted to subpoena. The subpoenas are part of an SEC investigation into whether Navistar violated federal securities laws “by making false or misleading statements or material omissions” regarding […]

March 23, 2015

Construction Equipment

JCB now building 3CX backhoes in North America, will add 100 workers to new line

JCB has added the 3CX backhoe to the lineup of machines being made at its North American headquarters in Savannah, Georgia. On November 1, the first JCB 3CX rolled off the line at the facility, according to a report from the Savannah Morning News. JCB is adding 100 workers to support production of the machine, which […]

November 18, 2014

Business

Terex sells 51% of ASV to Manitex, resulting in skid steer, compact track loader joint venture

Terex is selling 51 percent of ASV to Manitex International, resulting in a joint venture that is 51 percent owned by Manitex and 49 percent owned by Terex. The joint venture will manufacture skid steers and compact track loaders. According to Terex, after the agreement is finalized, ASV will continue to sell its skid steers […]

November 3, 2014

Business

Toro buys BOSS snowplows, salt and sand spreaders

Toro will buy the BOSS business of Northern Star Industries, based in Iron Mountain, Michigan. BOSS makes snowplows, salt and sand spreaders for light and medium duty trucks, ATVs, UTVs and loaders. Michael J. Hoffman, Toro chairman and CEO says the BOSS line will be added to Toro’s existing professional contractor businesses. “We’ve long been […]

October 29, 2014

Business

Caterpillar profit up 4% in 2Q despite decline in sales; improves full-year forecast

Despite a dip in sales and continued soft demand for mining equipment, Caterpillar today announced a 4-percent increase in profit during the second quarter. The company today announced profits of $999 million, or $1.57 per share, for the second quarter ending June 30. That’s up 4 percent from the $960 million earned during the same […]

July 24, 2014

Business

Exports of U.S.-made construction equipment fall 18.8% in 1Q; Africa region accounts for only gains

Exports of construction equipment made in the U.S. fell 18.8 percent between first quarter 2013 and first quarter 2014, according to analysis of Commerce Department data by the Association of Equipment Manufacturers. Construction equipment exports fell to $4.292 billion during the first quarter with nearly all global regions recording either high-single or double-digit losses. The […]

June 11, 2014

Construction Equipment

Caterpillar CIO Randy Krotowski resigns

Caterpillar Chief Information Officer Randy Krotowski has resigned from the company. Krotowski’s departure was effective June 1. The Caterpillar announcement did not go into the exact specifics of his resignation saying only that he left “to pursue other opportunities.” In addition to serving as CIO, Krotowski was also the company’s vice president of Global Information […]

June 4, 2014

Business

John Deere profit drops 10% in 2Q, sales and revenues fall 9%

Snapping a streak of 15 consecutive quarters with record earnings, John Deere announced Wednesday declines in both profit and revenues during the second quarter. As a result, the company revised its sales forecast for the rest of the fiscal year downward. The company announced profit of $980.7 million, or $2.65 per share, for the second […]

May 14, 2014

Business

Caterpillar profit rises 5% in 1Q due to surge in construction equipment sales

After a rough 2013 that saw profits drop 33 percent, the momentum Caterpillar gained during a strong fourth quarter appears to have remained in tact in 2014 and the company has raised its profit forecast for the year. The company today announced profits of $922 million, or $1.44 per share, for the first quarter ending […]

April 24, 2014

Business

Republican Senators turn tables on investigation in vocal defense of Caterpillar during tax hearing

Though a U.S. Senate report written by Michigan Democrat Sen. Carl Levin concluded that Caterpillar had done nothing illegal in offshore tax strategy, most expected a Tuesday hearing before the Permanent Subcommittee on Investigations to amount to a prolonged scolding for Cat and its financial adviser PricewaterhouseCoopers LLP. In the end, it was more of a fair […]

April 1, 2014

Construction Equipment

Caterpillar to defend tax strategy before U.S. Senate today, will likely receive support from John McCain

Caterpillar has confirmed an earlier report by saying it is scheduled to testify in a U.S. Senate hearing on whether the company illegally shifted profits overseas to avoid paying federal taxes. According to a report from Reuters, the Senate’s Permanent Subcommittee on Investigations headed by Michigan Democrat Sen. Carl Levin, prepared a report that focuses on Caterpillar corporate […]

March 31, 2014

Business

Wacker Neuson achieves revenue, profit goals for 2013, expects to continue growth in 2014

Releasing 2013 financial results, German manufacturer Wacker Neuson says its group revenue rose 6 percent to just under $1.6 billion over the previous year, a result dampened somewhat by currency fluctuations. Cem Peksaglam, CEO, says the company was able to further expand its market position, particularly in the company’s Americas region, which experienced an increase […]

March 31, 2014