Tag: oems: Page 9

Business

Report: Senate panel investigating Caterpillar for avoiding taxes

A U.S. Senate panel that has investigated Microsoft, Hewlett-Packard and Apple for avoiding paying federal taxes has now turned its attention to Caterpillar, according to a report from Bloomberg. The panel is investigating whether Caterpillar shifted profits overseas to avoid paying taxes, the report says, citing three anonymous sources. In early April, the Senate’s Permanent Subcommittee […]

March 27, 2014

Construction Equipment

OEMs used ConExpo to preview what will be the most revolutionary decade in the history of heavy equipment and truck technology

As ConExpos go, the 2014 show was a welcome shot of enthusiasm for the construction industry. But it was a short quote from Doug Oberhelman, CEO of Caterpillar, that I think set the tone and the goals for the next decade in the heavy equipment business. Oberhelman was talking to the press about the completion […]

March 24, 2014

Business

Much improved 4Q and stronger 2013 sales push Terex to “a good year”

Releasing fourth quarter and full year results today, Terex said it had net sales of $7.1 billion during 2013, up 1.4 percent from 2012. Fourth quarter sales were up 12-½ percent in 2013 over the previous year to $1.8 billion, and tracking closely with third quarter net sales of $1.810.6 billion. Income from 2013 continuing […]

February 19, 2014

Business

Caterpillar opens $14.8 million expansion to large engine plant in Mississippi

This past weekend, Caterpillar held a ribbon-cutting ceremony for the opening of a $14.8 million expansion at its large engine manufacturing plant and warehouse in Corinth, Mississippi. Cat makes the C175 engine at the Corinth plant. The 42,000-pound, 20-cylinder, 4,000-horsepower engine is used for power generation and in mining equipment. The newly-opened expansion will house the […]

February 17, 2014

Business

John Deere construction equipment profits rise 32% in another record-breaking Q1

John Deere has announced record earnings for the 15th straight quarter, but it’s outlook for the rest of the year isn’t quite as bright. In its first fiscal quarter ending January 31, John Deere profits were up 5 percent over Q1 2013 to $681.1 million. Net sales and revenues were up as well, increasing 3 […]

February 12, 2014

Business

With acquisition finalized, Volvo Rents is now BlueLine Rental

After its acquisition by private equity firm Platinum Equity — finalized in January –Volvo Rents has been rebranded BlueLine Rental. With 130 rental stores in North America, BlueLine will continue to rent Volvo backhoes, skid steers, compact wheel loaders, compact excavators and compaction equipment, along with other machines and tools. Scott Hall, president of BlueLine, […]

February 10, 2014

Business

Volvo CE operating income plummets 54% in 2013 despite gains in 4Q

Despite encouraging gains in the fourth quarter, Volvo Construction Equipment will be glad to put 2013 behind it. Full-year sales fell by 16 percent to $8.2 billion (53.4 billion SEK) while operating income plummeted 54 percent to $399 million (2.6 billion SEK). In its report, Volvo CE attributed the fall in operating income to “tough price […]

February 5, 2014

Business

Bomag breaks ground on new North American HQ in South Carolina

Wednesday morning, Bomag Americas held a ground breaking ceremony for the future site of its new North American headquarters in Ridgeway, South Carolina. Company officials as well as South Carolina State and local officials were on hand for the event. The $18.2 million investment will create 121 new jobs for the state, South Carolina Gov. […]

February 5, 2014

Business

Komatsu profit up 26% in first 9 months due to increased demand for construction equipment

Despite impact from a low demand for mining equipment, Komatsu saw increases in both sales and profits for the first nine months of its fiscal year. The company reported net sales of $13.6 billion (1.38 trillion yen), up 3 percent over the same period in 2012. Operating income rose 10 percent to $1.6 billion (165.6 […]

February 2, 2014

Business

CNH Industrial full-year revenue flat, but 9% profit gain in 4Q adds to overall positive 2013

Following a down third quarter, CNH Industrial saw an increase in profit for the fourth quarter add to an overall positive 2013 for the company. CNH Industrial reported this morning that full-year net revenues were flat at $35 billion (€25.8 billion). Meanwhile, net profit rose 2 percent from 2012 to $1.2 billion (€917 million). For the fourth […]

January 30, 2014

Business

LiuGong North America says 2013 was a record breaking year

Although it released no numbers, LiuGong North America says the fourth quarter of 2013 was record breaking, “making 2013 the most profitable year with four consecutive profitable quarters since North American operations began in 2008.” The company also says it has a record number of orders going into the first quarter of this year. LiuGong […]

January 30, 2014

Business

Profits drop 33% in 2013, but Caterpillar’s better-than-expected 4Q provides momentum for ’14

Caterpillar released its fourth quarter and full-year financial results for 2013 this morning, with numbers that were better than expected by Wall Street analysts. The heavy equipment manufacturer’s profits were $1 billion in the fourth quarter, an increase of 44 percent from 4Q 2012. That increase is mostly due to the $580 million impairment charge […]

January 27, 2014