Tag: heavy equipment manufacturers: Page 7

Construction Equipment

Caterpillar to defend tax strategy before U.S. Senate today, will likely receive support from John McCain

Caterpillar has confirmed an earlier report by saying it is scheduled to testify in a U.S. Senate hearing on whether the company illegally shifted profits overseas to avoid paying federal taxes. According to a report from Reuters, the Senate’s Permanent Subcommittee on Investigations headed by Michigan Democrat Sen. Carl Levin, prepared a report that focuses on Caterpillar corporate […]

March 31, 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

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

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

Construction Equipment

Caterpillar VP Hans Haefeli to retire, PRS VP Savage tapped as replacement

Hans Haefeli, Caterpillar’s vice president of Advanced Components & Systems Division (ACSD) has decided that he will retire April 30, 2014. Jean Savage has been tapped to replace Faefeli. Savage is currently senior vice president and Chief Operating Officer of the Locomotive and Railcar Services business unit for  Progress Rail Services (PRS), a Caterpillar subsidiary. Savage will […]

December 12, 2013

Business

John Deere Q4 and fiscal-year profits again increase to record highs

For the third straight year and the 14th-straight quarter, John Deere has announced record earnings. And, based on the recovering economy and housing market, the manufacturer sees things pickup up for its construction equipment business in 2014. The heavy equipment manufacturer announced Wednesday that profit for the fourth quarter of the year was up 17 […]

November 20, 2013

Business

The latest in a string of closings, Caterpillar to shutter Virginia mining equipment plant, lay off 240 workers

The decrease in demand for mining equipment is still hurting Caterpillar as the company has announced plans to close another mining equipment plant and lay off an additional 240 workers. The Pulaski, Virginia plant manufactures coal haulers and other equipment and is slated for shutdown by mid-2014, according to a report from Reuters. The announcement is […]

November 18, 2013

Business

Caterpillar CIO says priorities include improving supply chain, providing customers with productivity-boosting IT solutions

In an interview with Forbes, Caterpillar Vice President and Chief Information Officer Randy Krotowski detailed his first 100 days at the company and laid out his goals and priorities for the company’s information technology division. Krotowski came to Caterpillar in February of last year after spending nearly 30 years with Chevron. Krotowski says it took some […]

September 3, 2013

Business

BOMAG exits Kewanee plant, plans new facility in southern U.S.

BOMAG Americas says it will cease manufacturing operations in Kewanee, Illinois, by the end of 2014 and relocate its business in a yet-to-be-determined location in the southern United States. BOMAG says its Kewanee-produced products—single drum rollers, asphalt rollers, and a reclaimer/stabilizer—will either be relocated to the new plant or be replaced with “market-accepted products manufactured […]

August 29, 2013

Maintenance

Coolants for Life… or Near About

Almost all auto makers and many heavy equipment manufacturers now factory fill their new machines with extended life coolants (ELCs). While these coolants are more expensive than traditional coolants, their advantages are too good to ignore. The additives in traditional coolants plate out over time on the inside of your radiators’ surfaces, creating a mineral […]

July 1, 2012