Tag: equipment manufacturers: Page 6

Business

Republican Senators turn tables on investigation in vocal defense of Caterpillar during tax hearing

Though a U.S. Senate report written by Michigan Democrat Sen. Carl Levin concluded that Caterpillar had done nothing illegal in offshore tax strategy, most expected a Tuesday hearing before the Permanent Subcommittee on Investigations to amount to a prolonged scolding for Cat and its financial adviser PricewaterhouseCoopers LLP. In the end, it was more of a fair […]

April 1, 2014

Business

Wacker Neuson achieves revenue, profit goals for 2013, expects to continue growth in 2014

Releasing 2013 financial results, German manufacturer Wacker Neuson says its group revenue rose 6 percent to just under $1.6 billion over the previous year, a result dampened somewhat by currency fluctuations. Cem Peksaglam, CEO, says the company was able to further expand its market position, particularly in the company’s Americas region, which experienced an increase […]

March 31, 2014

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

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

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

Manitou Group appoints Michel Denis president and CEO

The Manitou Group board of directors today named Michel Denis as the group’s new president and chief executive officer. Denis replaces interim president and CEO Dominique Bamas who was appointed to the position in March 2013. Bamas’ resignation was amicable and in accordance with agreements made with the board to step down once a permanent […]

January 7, 2014

Business

Forbes: Sany, fellow Chinese equipment makers’ move into foreign markets “isn’t working”

It’s been a rough year for Sany. Back in January, despite the fact that a decade-long infrastructure boom in China had already come to a crashing halt, equipment manufacturer Sany had high hopes for its expansion into the U.S. and other foreign markets. The Chinese company told of its ambition to over take Komatsu and […]

November 7, 2013

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