Tag: manufacturers: Page 4

Business

CNH Industrial revenues dip slightly, profit drops 15% in 3Q

CNH Industrial has announced its first quarterly results as a newly-merged company with revenues and profits down from the same quarter last year. The merger between CNH and Fiat Industrial into the new company was completed on September 29, 2013. The company reports group revenues of €6.217 billion ($8.4 billion), down 1.5 percent from third quarter […]

November 4, 2013

Business

Caterpillar 3Q profits down 44%, cuts outlook for 2013 once more

Caterpillar is reporting another down quarter due to decreased mining demand with third quarter sales and revenues down 22.5 percent and profits down 44 percent from last year. The company announced today third quarter sales and revenues of $13.423 billion, down from $16.556 billion in the third quarter last year. Third quarter profits fell from […]

October 23, 2013

Business

Navistar loses $247 million in Q3, cuts 500 employees from workforce

Navistar’s efforts to restore the company’s profitability took a logical yet unenviable turn Tuesday as the company announced plans to trim its workforce by 500 employees. The cuts were announced as part of Navistar’s earnings report Tuesday morning, where the company reported a third quarter 2013 net loss of $247 million—down significantly from a net […]

September 4, 2013

Business

Caterpillar announces retirement of 3 VPs alongside realignments and new Strategic Services Division

Caterpillar on Tuesday announced the retirement of three longtime vice presidents, two division realignments and a newly-created Strategic Services Division. Mike DeWalt has been appointed as the vice president of the new division which will include strategic planning, Mergers & Acquisitions (M&A), investor relations, economics, business risk management and competitive analysis. It’s part of a renewed […]

August 21, 2013

Business

Forecast expects global demand for construction equipment to reach $189 billion by 2017

Citing growth in Asia, primarily in China, a new forecast expects global demand for construction equipment to rise at a click of 6 percent per year, reaching $189 billion by 2017. The report, put together by market research firm the Freedonia Group, says the Chinese market “will climb at a double-digit annual rate” while the […]

August 13, 2013

Business

Volvo Construction Equipment 2Q sales fall 19%, operating income down 52 percent

Attributing year-over-year declines to “weaker sales, especially in the mining industry,” Volvo Construction Equipment reported its second quarter results with no change to its outlook for the rest of the year. The company reported operating income of $203.8 million (SEK 1.324 billion). That’s a 52 percent decrease from the $422.2 (SEK 2.742 billion) million brought […]

July 26, 2013

Business

U.S. government launches investigation into Manitowoc’s patent claims against Sany

The U.S. International Trade Commission has announced that it will open an investigation into patent infringement claims made against Sany America by Manitowoc Cranes. The investigation stems from claims alleging that the Chinese equipment manufacturer has infringed upon two Manitowoc patents in the design of its SCC8500 crawler crane. The complaint to the USITC was […]

July 12, 2013

Business

Bloomberg profile of Caterpillar CEO focuses on gap between profits and worker pay

Bloomberg Businessweek recently profiled Caterpillar CEO Doug Olberhelman, pulling very few punches in the process. The profile refers to Olberhelman as a man with a “serious demeanor” and calls him the “mouthpiece” of American manufacturing. It details his work to loosen trade restrictions, lower the corporate tax rate and increase infrastructure spending, as well as his […]

May 20, 2013

Business

Caterpillar names Peoria baseball stadium “Dozer Park”

In what has to be one of the most unique names for a ballpark to date, Caterpillar has named the baseball stadium in its hometown of Peoria, Illinois  “Dozer Park,” according to a report from the town’s paper the Journal Star. The ballpark is the home of the Peoria Chiefs minor league baseball team, a farm […]

May 13, 2013

Business

Hyundai Construction Equipment Americas names Seok Myung Yoon president and CEO

Hyundai Construction Equipment Americas named Seok Myung Yoon its new President and CEO Wednesday. Yoon, known by most as Sam, comes to the company’s American construction equipment division from its parent company Hyundai Heavy Industries. Yoon will be making the move from HHI’s Brazil division to Norcross, Georgia where the American construction equipment division is […]

May 8, 2013

Business

JCB celebrates 1 millionth machine: a JS220 tracked excavator

JCB recently celebrated its 1 millionth machine rolling off the assembly line with a big event at the company’s headquarters in the UK. The company wrapped the entire glass frontage of its headquarters in Rocester, Staffordshire, England with a graphic wrap announcing the milestone and hundreds of JCB employees gathered together to celebrate. The 1 […]

May 7, 2013

Business

Caterpillar to close South Carolina plant that employs 280 people

In what the Charleston, South Carolina Post and Courier calls “a sizable blow” to the region’s manufacturing industry, Caterpillar has announced that it will close a plant there that employs 280 people. After what Caterpillar told the paper was “an extensive strategic review,” the company decided to shut down its transmission remanufacturing plant as it […]

May 1, 2013