Tags: Business

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

Feb 02, 2016

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 ...

Read More...

Caterpillar profit fell 43% in 2015; 4Q loss comes as construction, mining sales weaker than expected

Feb 01, 2016

Caterpillar profit fell 43% in 2015; 4Q loss comes as construction, mining sales weaker than expected

Despite slashing its sales outlook in tandem with an October announcement of a sweeping cost reduction plan, Caterpillar's full-year sales still fell below that most recent forecast after sales fell $3 billion year over year in the fourth quarter. The company reported 4Q sales and ...

Read More...

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

Jan 27, 2016

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 ...

Read More...

Johnson to replace Rapp as president of Caterpillar’s Resource Industries group

Jan 19, 2016

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 ...

Read More...

American Concrete Institute promotes new managing director

Jan 14, 2016

The American Concrete Institute has a new managing director. The organization announced in a press release that long-time employee Christopher J. Darnell had been promoted to become the new managing director and focus his efforts on improving member and customer experience by ...

Read More...

Caterpillar to close Kentucky plant, cut 50 jobs

Nov 23, 2015

Caterpillar to close Kentucky plant, cut 50 jobs

As part of the company's ongoing, extensive cost-cutting plan, Caterpillar announced over the weekend that it would close its Danville, Kentucky, facility. According to the Northern Kentucky Tribune, Cat will close the facility, which manufactures track-type undercarriage components, and move production to ...

Read More...

Caterpillar lays off hundreds more, announces plant closing in North Carolina

Nov 18, 2015

Caterpillar lays off hundreds more, announces plant closing in North Carolina

With thousands of the company's employees already accepting early retirement packages and hundreds more having received notice of being laid off, Caterpillar has wasted no time in implementing its sweeping cost reduction plan announced in September. And over the last few weeks, ...

Read More...

Finning, world’s largest Cat dealer, to cut 1,100 jobs due to weak equipment sales

Nov 17, 2015

Finning, world’s largest Cat dealer, to cut 1,100 jobs due to weak equipment sales

In the face of slumping demand, Canadian Caterpillar dealer Finning International Inc. has announced it will make significant workforce reductions to cut costs. Finning will cut approximately 1,100 employees—8 percent of its workforce. The company says by the end of 2015 ...

Read More...

Senate votes to meet with House to finalize transportation bill

Nov 11, 2015

Senate votes to meet with House to finalize transportation bill

The United States Senate is officially set to meet with members of the House of Representatives in order to finalize a long-term transportation bill. The Senate passed the measure 78-20, with two senators abstaining, in order to send a delegation of Senators to ...

Read More...

House passes $325 billion, 6-year transportation bill

Nov 05, 2015

House passes $325 billion, 6-year transportation bill

America's infrastructure is much closer to having long-term funding following the House of Representatives overwhelmingly passing a new highway bill on Thursday. According to the House Transportation and Infrastructure Committee, after representatives voted on over 100 amendments, the Surface Transportation Reauthorization and Reform ...

Read More...

Thousands of Caterpillar employees take early retirement as cuts continue

Oct 28, 2015

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 ...

Read More...

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

Oct 27, 2015

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 ...

Read More...

SUBSCRIBE & FOLLOW

advertisement

TWITTER

FACEBOOK

BLOG

advertisement
advertisement
advertisement
AggMan_logo_withTagline_white_3