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Caterpillar CEO Doug Oberhelman at a panel at the U.S. Export-Import Bank in Washington, D.C., March 31, 2011. (Andrew Harrer/Bloomberg)
Caterpillar Inc. leader Douglas Oberhelman emerged from a one-hour meeting with Gov. Pat Quinn Tuesday morning, assuring that the Peoria-based manufacturing titan intends to stay put and help push for improvements in the state’s business climate. Get the full story »
Caterpillar Inc. will likely take a break from acquisitions after reaching three large deals in the past year, executives at the world’s largest maker of heavy equipment said.
The company will be focused on closing its $7.6 billion takeover of mining equipment maker Bucyrus International, and then on integrating that new operation into the rest of its business, Chief Executive Doug Oberhelman said. Get the full story »
Heavy-equipment maker Caterpillar Inc. says it is considering selling off part of its logistics subsidiary, so it can focus on its core business. 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 »
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.
A Caterpillar worker ties down a machine part to a flatbed rail car with steel banding. (David Klobucar/Chicago Tribune)
Caterpillar Inc., a U.S. heavy equipment maker that has been moving aggressively into the rail business, will announce plans on Friday to open a railcar facility in Indiana, the (Muncie) Star Press newspaper reported on Friday.
Citing unnamed sources, the paper said Caterpillar’s Progress Rail unit would take over a huge vacant factory in Muncie that has doors in the rear that allow trains to enter and exit.
The report did not say whether the plant would be used to service locomotives and other railroad rolling stock or to manufacture new equipment. It said the facility, in east-central Indiana, would eventually employ 650 workers. Get the full story »
Caterpillar Inc. announced Tuesday plans to open a new manufacturing plant in Brazil to meet growing customer demand in Latin America.
The Peoria-based company said the new facility will produce backhoe loaders and small wheel loaders, which are now made in Piracicaba, in the southeast part of the country. Get the full story »
