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Business

KHL: Construction equipment revenues down as manufacturers trade places in top 10 rankings

Caterpillar and Komatsu remain the no. 1 and no. 2 construction equipment manufacturers in the world, respectively, to no surprise according to the latest edition of KHL’s annual Yellow Table study. However, four manufacturers traded places in the top 10. Volvo and Hitachi swapped, as did Terex and Liebherr though the publication does not note exactly […]

April 2, 2015

Construction Equipment

Terex begins manufacturing Genie telehandlers in Oklahoma City

Terex has announced that it is now manufacturing Genie telehandlers at its Oklahoma City facility. The 700,000-square-foot facility employs 260 people and Terex has begun hiring to fill new positions. The company says the OKC plant could produce more types of Genie machines should demand require it. “We have made a a long-term strategic shift to our […]

February 10, 2015

Business

Sales fall again in 4Q as CNH Industrial posts 14% profit decline for 2014 on slumping farm demand

It wasn’t nearly as bad as the third quarter, but the fourth certainly wasn’t much better for CNH Industrial which saw sales declines across all equipment and vehicle segments. Sales for the company, makers of the Case Construction and New Holland equipment brands, fell 10 percent during the quarter to $8.4 billion. Despite the drop […]

January 29, 2015

Business

Komatsu profit up 5.5% in 3Q thanks to strong construction equipment sales in North America

Helped by a weakening of the yen against the U.S. dollar as well as increased equipment sales in the Americas and Europe, Komatsu posted gains in both profit and sales during its fiscal third quarter. For the quarter, which ended December 31, net sales increased 6.4 percent over Q3 2013 to $4.2 billion (494 billion yen). […]

January 28, 2015

Home

Caterpillar full-year earnings dip with bad 4Q; falling oil prices expected to drag 2015 down even further

For a second consecutive year, Caterpillar sales and profit have fallen. And in addition to the slump in demand for mining equipment that has plagued the company for the last two years, Cat is now contending with falling oil prices, causing the company to forecast another drop in sales for 2015. After ending a disappointing 2013 with […]

January 27, 2015

Business

Caterpillar cost-cutting continues: company to clip 240 workers at Illinois mining plants

Caterpillar will lay off 240 workers across two of its Illinois plants as the company continues to cope with a global decline in demand for mining equipment. The company told the Chicago Tribune it will begin the layoffs January 19 at its Decatur and East Peoria plants, both of which manufacture products for the mining industry. Cat […]

January 9, 2015

Business

Larry Weyers named president of Manitowoc Cranes, Etchart steps down to VP role

Eric Etchart is stepping down from his role of president at Manitowoc Cranes and into a vice president role as part of The Manitowoc Company’s succession plan for Etchart’s upcoming retirement. Etchart has served as president of the cranes business for the past eight years. He has a planned retirement in the coming years, according to a […]

January 7, 2015

Construction Equipment

More than 100 JCB machines aboard tipped-over cargo ship that ran aground near English island

More than 100 JCB machines worth millions of dollars are in jeopardy of being lost after a cargo ship ran aground and nearly tipped over on a small bank near the Isle of Wight in England. According to the BBC, the Hoegh Osaka began listing shortly after leaving the port of Southampton January 3. About 90 minutes […]

January 6, 2015

Business

Tadano America comic book embezzler named one of top 10 costliest frauds

The $9.3 million embezzlement by the former head of legal affairs and human resources at Tadano America was among the top 10 costliest embezzlements reported in the 2013 Marquet Report on Embezzlement, released last Friday. The Marquet report delves into white collar fraud on cases where at least $100,000 was alleged to have been misappropriated. […]

December 23, 2014

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

Despite slight dip in profit during first 6 months, Komatsu revises full-year forecast upward on “brisk” equipment sales

Sales and operating income at Komatsu are up during the first six months of the company’s fiscal year, but the increases weren’t enough to stave off a slight dip in profit. The Japanese heavy equipment manufacturer reported sales of $8.3 billion (942.5 billion Japanese Yen), during the first half of fiscal year 2o14, which ends […]

November 3, 2014

Business

Kobelco opens new North American headquarters in Texas

As a result of expected rapid growth in their sale of excavators in North America, Kobelco Construction Machinery has opened a new corporate headquarters in Katy, Texas. Designed to service dealers and customers in the United States, Canada and Latin America, the location features parts warehousing capabilities including a floor plan and racking configuration that […]

November 3, 2014