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Tag: heavy equipment manufacturers: Page 2
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
Business
Johnson to replace Rapp as president of Caterpillar’s Resource Industries group
The Caterpillar board of directors has elected Denise Johnson as the next group president for Resource Industries. Johnson will replace Ed Rapp who last month announced his plans to retire due to a recent diagnosis of Amyotrophic Lateral Sclerosis (ALS), better known as Lou Gehrig’s disease. Johnson currently serves as vice president of Cat’s Material Handling […]
January 15, 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
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
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
Dealers
Liebherr celebrates distribution evolution, Manitou launches new website and more in the latest Dealer and Manufacturing Roundup
Applied Machinery expands with new office location Applied Machinery Sales is expanding with a new office location in Rock Hill, South Carolina. This new location has nearly 48,000 square feet of space and will support their growing dealer network. The new facility will house the company’s parts and attachments inventory, handle daily orders and provide […]
July 31, 2015
Business
Latest round of Caterpillar layoffs hits Pontiac fuel systems plant
After laying off nearly 200 workers at its East Peoria plant last month, Caterpillar has announced another wave of cuts, this time at its Pontiac, Michigan, plant. According to a report from the Peoria Journal Star, Cat will place 35 full-time employees at the plant, which manufactures fuel systems, on indefinite layoff and will fire another 10 […]
July 8, 2015
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