Tag: oems: Page 6

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

Terex profit falls 30% in 3Q, reduces expectation for full-year earnings

Despite a slight sales boost, equipment manufacturer Terex saw earnings fall during the third quarter and has reduced its earnings forecast for the full year. Sales were up 3 percent over the same quarter last year to $1.8 billion, mainly due to the continued success of the company’s aerial work platforms (AWP) segment and a […]

November 2, 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

Volvo CE earnings jump 31% during 3Q despite flat sales

Continued weak demand for construction equipment in China has negated sales gains in other parts of the world for the second-straight quarter at Volvo Construction Equipment. Despite the difficulties in Asia, the company’s positive earnings report for the third quarter Friday included a 31-percent gain in operating income to $89 million (SEK 648 million) over […]

October 24, 2014

Business

Caterpillar profit up 8% in 3Q, beats Wall Street expectations with slight uptick in sales

Caterpillar today announced an increase in both profit and sales during the third quarter, beating analyst expectations despite more declines in demand for mining equipment. The company announced profit of $1.017 billion, or $1.63 per share, an increase of 8 percent over third quarter 2013. Excluding $81 million in restructuring costs, profit would have been […]

October 23, 2014

Dealers

Caterpillar leadership sees shake-up as heads of mining and dealer support announce retirement

Caterpillar has announced the retirement of two group presidents and a vice president, all of which will take effect early next year. Steve Wunning, 63, is retiring from his post as group president for resource industries, which includes mining. Caterpillar says that Ed Rapp, 57, current group president for construction industries will replace Wunning. Tom […]

October 14, 2014

Business

John Deere names Max Guinn next president of Construction & Forestry equipment

John Deere has named Max A. Guinn as the next president of its Worldwide Construction & Forestry equipment division. Guinn, who is currently the senior vice president of human relations, communications, public affairs and labor relations at Deere, was also named president of the company’s Labor Relations and Security division. The move comes as part […]

October 2, 2014

Business

Vermeer names third-generation family member Jason Andringa incoming president, CEO

Vermeer Corporation has named Jason Andringa incoming president and CEO, taking over the position from his mother, Mary Vermeer Andringa, and continuing the Vermeer family’s leadership of the company into the third generation. The transition will be fully effective on Nov. 1, 2015. On Nov. 1 this year, Jason will assume the role of president […]

August 26, 2014

Business

Case to move M Series dozer production to Burlington, Iowa plant in $24 million expansion

Case Construction Equipment has announced that it plans to move production of its M Series crawler dozers to Burlington, Iowa, following an expansion of a plant there. The dozers are currently being made at a plant in Calhoun, Georgia. In late June, Case’s parent company CNH Industrial announced that the Calhoun plant would be closing in […]

August 5, 2014

Business

Wages for construction workers and heavy equipment manufacturing workers are on the rise

We’re now five years into the economic recovery following the Great Recession and pay raises, according to a report from the Associated Press, are uneven across U.S. industries. Overall, pay in the U.S. has risen at a rate roughly equal to inflation: about 2 percent per year. Using data from the Bureau of Labor Statistics, […]

August 5, 2014

Business

Cummins sales, profit and expectations rise in 2Q due to stronger demand in North America

Cummins has announced gains in both sales and profit during the second quarter. The company has raised its full-year forecast as a result. During the quarter, sales rose to $4.8 billion, up 7 percent over the same quarter in 2013. Cummins says the increase was due to stronger demand in North American on-highway markets and […]

August 5, 2014

Business

CNH Industrial profit up 10% despite sales declines in construction and ag equipment

A slight increase in revenues boosted profit 10 percent at CNH Industrial during the second quarter of the year as sales gains in the company’s powertrain segment offset decreases in both construction and agriculture equipment. CNH, makers of the Case Construction and New Holland equipment brands, saw revenues rise to $8.9 billion, up 0.9 percent from the […]

August 4, 2014