Tag: construction equipment manufacturers: Page 2

Dealers

Curry Supply expands parts distribution

Curry Supply, Martinsburg, Pennsylvania, is expanding its parts and components distribution network and is adding 32,000 square feet of warehouse and office space capacity to its East Freedom location. The facility is expected to be complete late summer. The company, which manufactures service vehicles for the construction, rental, mining, oil and gas, and waste industries, […]

August 11, 2016

Dealers

Caterpillar profit drops 41% in Q2 as oil, gas, mining continue to hurt sales

Reporting a second quarter that saw sales fall 16 percent, Caterpillar has again cut its outlook for 2016. Facing continued downturns in the oil, gas and mining industries coupled with sluggish economic conditions in developing countries, sales and revenues fell to $12.3 billion while operating profit dropped 41 percent to $785 million. Cat chairman and CEO […]

July 27, 2016

Business

Caterpillar to close 5 more plants, cut 670 jobs as part of cost reduction plan

As part of the company’s cost reduction plan introduced in the Fall of last year, Caterpillar has announced its latest round of layoffs with cuts affecting five facilities around the U.S. According to a report from the Associated Press, Cat will eliminate a total of 670 jobs and close plants in Illinois, Georgia, New Mexico, Wisconsin and China. However, production at these […]

February 1, 2016

Business

Judge throws out ICP’s antitrust suit against Caterpillar, Komatsu and Volvo CE

A lawsuit filed against three of the largest manufacturers of construction equipment alleging that they worked together to limit competition from Chinese manufacturers has been thrown out of federal court. According to a report from the Wall Street Journal, U.S. District Judge Richard Andrews dismissed the lawsuit which was filed by International Construction Products (ICP) nearly one […]

January 25, 2016

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

Volvo CE reports increased market share despite sales, profit drops in 3Q

Despite continued growth in the North American market, Volvo Construction Equipment sales and profit dipped during the third quarter. The manufacturer saw 11.84 billion SEK in sales ($1.4 billion) during the quarter, down 5.5 percent from Q3 2014. However, even with the lower demand, Volvo says it grew market share among larger machines during the quarter. […]

October 26, 2015

Business

Caterpillar CEO voices confidence in strength of key industries despite 64% profit decline in 3Q

After preparing everyone last month for the likelihood of continued bad news on the financial front with the launch of an extensive cost-cutting plan, Caterpillar has announced another down quarter with double digit decreases to both sales and profit. Cat sales and revenues fell to $11 billion during the third quarter, a decrease of 19 […]

October 23, 2015

Construction Equipment

Caterpillar to shutter global mining HQ, move jobs to South Milwaukee

Just weeks after Caterpillar announced a massive cost reduction plan and the departure of its top mining executive, the equipment manufacturer has decided to close down its global mining equipment headquarters in Oak Creek, Wisconsin. The good news for the employees at the $8.6 million Oak Creek facility is that all 250 jobs at the location will transitioned to a […]

October 9, 2015

Dealers

Vermeer names Ultimate Crew; Holt Cat hits VisionLink milestone; Orion expands & more in the latest Dealer and Manufacturing roundup

Vermeer names B&T Drainage winner of Ultimate Crew contest B&T Drainage from Marshall, Illinois, was named the winner of the Ultimate Crew Contest sponsored by Vermeer at last week’s International Construction & Utility Equipment Expo in Louisville. A panel of judges scored each team based on their times, accuracy, safety procedures and teamwork in completing a live drilling competition. […]

October 8, 2015

Business

Caterpillar to cut 230 workers in East Peoria; may move Joliet parts production to Mexico

The first workforce cuts of Caterpillar’s recently announced, extensive cost-cutting plan will come at the company’s East Peoria, Illinois plant. According to a report from the Peoria Journal Star, Cat will lay off 230 employees in East Peoria. The announcement came days after the company announced that it would cut as many as 10,000 jobs from its global workforce […]

October 7, 2015