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Caterpillar Inc. said disruptions in its supply chain in Japan could sporadically affect the company’s assembly plants elsewhere in the world.
The Peoria-based manufacturer of construction equipment said Friday it is attempting to secure alternative sources for components produced by Japanese-based suppliers in case they aren’t able to provide sufficient volumes of components in the aftermath of last week’s earthquake and tsunami in northeast Japan. Get the full story »
The UAW says a majority of members at Caterpillar approved the new six-year contract in voting Sunday. The union did not provide specific numbers on how members voted. Get the full story »
From the Rockford Register-Star | United Auto Workers representatives said the union has reached a tentative labor agreement with Caterpillar Inc., averting a possible walkout. The UAW says the new, six-year tentative agreement was reached Monday night and will be presented for a ratification vote next weekend.
The agreement would cover some 9,500 hourly production and maintenance workers in Peoria, Aurora, Decatur and Pontiac in Illinois as well as in York, Pa.; Denver; and Memphis, Tenn. | Get the full story>>
Caterpillar’s machinery sales through dealers accelerated in the trailing three-month period through January, according to data posted on the equipment maker’s website.
Dealer-reported retail sales were up 49 percent worldwide from a year earlier, accelerating from the 44 percent pace reported last month. The increase was led by jumps of 58 percent in North America and 56 percent in Latin America, both marking a sequential increase, according to data on the website. Get the full story »
Caterpillar said Wednesday that it plans to sell Salem, Va.-based Carter Machinery as part of a management buyout. The terms of the sale were not disclosed. Get the full story »
Union workers at Caterpillar Inc. voted by a 94 percent majority to stage a strike against the company should a new contract not be drawn up by March 1, when the existing agreement expires, Illinois’s Peoria Journal Star reported on its website Sunday.
The vote involved union members at seven locals in Illinois, Colorado, Tennessee and Pennsylvania, according to the report. Get the full story »
Caterpillar Inc. reported a stronger-than-expected quarterly profit Thursday lifted by especially strong sales of its machines and engines in Asia and Latin America.
Caterpillar, the world’s largest maker of earth-moving construction and mining equipment, reported a fourth-quarter net profit of $968 million, or $1.47 a share, up from $232 million, or 36 cents a share, a year earlier. Get the full story »
A top executive with Caterpillar Inc., the world’s largest maker of earth-moving construction and mining equipment, said Friday the company plans to spend more than $1 billion to increase its manufacturing capacity in China.
In an interview at an event tied to the U.S. visit this week of Chinese President Hu Jintao, Rich Lavin, a group president at Caterpillar, said his company’s current network of 11 Chinese plants was not enough to produce the “market-leading volumes” Caterpillar hopes to be producing by 2015. Get the full story »
Bucyrus International said shareholders approved a proposed $7.6 billion takeover offer from Caterpillar Inc., Reuters reported Friday on its Web site.
Almost 74 percent of holders of total outstanding shares of Bucyrus common stock voted Thursday to approve the deal, Bucyrus said.
Bucyrus, a manufacturer of mining equipment, said both companies expect the deal to be completed by mid-year.
Bucyrus International Inc. and Caterpillar Inc. received requests from the Department of Justice for additional information regarding the latter’s proposed $7.6 billion acquisition of the mining-equipment company. Get the full story »
Caterpillar Inc. said Monday it will open a plant in Thailand to produce underground mining equipment in the midst of increasing demand for mined commodities by developing countries. Get the full story »
Caterpillar Inc.’s Decatur plant has reached a major milestone with the production of its 10,000th mining truck. Get the full story »
Caterpillar Inc. suspended a plan to build mining shovels at its Aurora facility, which would have created 300 jobs through 2014.
The change of plans is due to the company’s acquisition of South Milwaukee-based Bucyrus International, a maker of shovels, walking draglines, drills and other mining equipment. The $7.6 billion deal, which was announced in November, is expected to close in mid-2011.
The company said in a statement that it suspended the all development and capital investment for mining shovels in Aurora “to conserve resources and eliminate business risks associated with internal development.” Get the full story »
Corporate profits are up. Stock prices are up. So why isn’t anyone hiring?
Many American companies are — overseas, where sales are surging and the pipeline of orders is fat. Get the full story »
Negotiators for Caterpillar Inc. and the United Auto Workers are taking a break for the holidays and plan to resume talks on a contract on Jan. 11. The contract covers about 9,500 workers at a number of sites around Illinois and in three other states. Get the full story »
