Tag: equipment manufacturers: Page 2

Business

Volvo CE doubles operating income in 2015 despite sales decline

Despite a decrease in sales during 2015, Volvo Construction Equipment managed a huge improvement in operating income for the year thanks to market share gains and strong performance in North America and Europe. The company reported fourth quarter sales of SEK 11 billion ($1.3 billion), down 11 percent from the same period last year. Operating […]

February 9, 2016

Business

Caterpillar found guilty of stealing trade secrets for creation of excavator quick couplers

Caterpillar has been ordered to pay Miller UK Ltd. nearly $74 million after being found guilty by a federal court in Chicago of stealing trade secrets in order to create its excavator quick coupler lineup. The decision comes five years after Miller filed its lawsuit and was the result of an eight-week trial. “We are disappointed […]

January 4, 2016

Construction Equipment

Kobelco construction, crane businesses to merge

Parent Kobe Steel has announced that its Kobelco Construction Machinery and Kobelco Cranes subsidiaries will merge, effective April 1. The Kobelco construction equipment business spun off the crane business in 2004, after which the two companies focused on their individual global markets. Kobe Steel says it considers the merger “necessary to further strengthen its business […]

December 22, 2015

Business

John Deere profits fall 40% in 2015; will cut 220 workers in Moline as low equipment demand is expected to continue

With decreased demand for both agriculture and construction equipment impacting the company, John Deere saw massive decreases in both profit and sales in fiscal year 2015. Deere sales fell 20 percent during the fiscal year, which ended Oct. 31, to $29 billion. Profit fell 40 percent to $1.940 billion, beating the company’s forecast which it dropped to $1.8 […]

December 1, 2015

Construction Equipment

CNH Industrial sales drop 24% in 3Q as company posts $128 million loss

Across the board declines continued for CNH Industrial in the third quarter, leading the company to decrease its sales forecast for the rest of the year. The company, which manufacturers the Case and New Holland brands of construction and agricultural equipment, saw sales drop 24 percent during the quarter to $5.85 billion. Consequently, the company […]

October 29, 2015

Business

Thousands of Caterpillar employees take early retirement as cuts continue

As Caterpillar begins its extensive workforce cuts around the world, thousands of employees have decided to take an offer of early retirement. Since announcing a cost-cutting plan in September, Caterpillar has laid off hundreds at its East Peoria plant and announced the closing of its global mining headquarters. And with the possibility that the workforce cuts […]

October 28, 2015

Business

Terex profit falls 24% in 3Q as sales slip across divisions

Citing a marketplace that “remains challenging,” Terex announced another down quarter for the year, with its Aerial Work Platforms division continuing to provide the majority of positive news for the company. Sales for the company fell 9.3 percent from third quarter 2014 to $1.6 billion while profit fell 24 percent to $44.8 million. “As mentioned last quarter, we are […]

October 27, 2015

Business

John Deere feels impact of energy slowdown in 3Q as construction equipment sales fall 13%

After a third quarter that brought more severe decreases in sales and profit, John Deere has cut its forecast for the rest of the year as the company now faces slowed demand for construction equipment alongside an existing farming slump. Deere sales fell 20 percent during the quarter to $7.6 billion while profit dropped 40 percent […]

August 21, 2015

Business

Bobcat, Doosan break ground on $9.5 million expansion of West Fargo HQ (PHOTOS, VIDEO)

Company executives and a fleet of Bobcat buckets recently broke ground on a $9.5 million expansion of the Bobcat/Doosan North America headquarters. In a video from the event, Rich Goldsbury, president of Bobcat and Doosan North America, explained that the companies had simply outgrown their current headquarters, built in 2000 in West Fargo, North Dakota. “This […]

August 19, 2015

Business

Caterpillar to lay off another 170 workers at East Peoria plant

Caterpillar has announced it will lay off an additional 170 workers at its East Peoria, Illinois, plant where the company manufactures mining and construction equipment. According to a report from Peoria Journal Star, the company announced the layoffs in consecutive weeks. A cut of 120 workers from the plant was announced last week and the reduction […]

June 24, 2015

Dealers

JLG acquires Power Towers, a new Atlas Copco sales VP and Kenworth dealer relocations all in the latest Dealer and Manufacturing News Roundup

JLG acquires UK-based Power Towers JLG Industries has acquired Power Towers, a low level access equipment manufacturer based in Leicester, UK. Power Towers, founded in 2007, offers 7 self-propelled and push around lift models, some rated for outdoor use. The company employs 30 people, all of whom have been retained through the acquisition. With the […]

June 8, 2015

Business

John Deere sees slight uptick in construction sales but profits fall 30% as ag slowdown continues

Construction and forestry equipment sales are the only bright spot for John Deere, albeit a dim one, as the heavy equipment manufacturer continues to see profit and sales declines due to the global slowdown in agricultural equipment demand. The manufacturer reported an 18-percent decline in sales during the second quarter to $8.171 billion. Profit fell […]

May 26, 2015