Joy will pay a dividend of $0.01 per share by March 31, provided that the proposed merger with Komatsu America Corp. does not close before the close of business on March 17, 2017.
Caterpillar Inc. Mining News
Prices for the metal soared again Thursday to more than $5,700 a tonne.
The deal still remains subject to closing conditions and regulatory clearances.
The R1700K is designed to lower costs and increase productivity.
The agreement will provide Caterpillar with additional design options in the 20-metric-tonnes and smaller payload class.
The layoffs are on top of the 1,900 positions Finning decided to axe last year.
England-based supplier Miller UK won a case filed five years ago, in which accused CAT of misusing classified information to produce its own coupler, rather than buying it from them.
The biggest drops were in the construction sector in Latin America (-41%) and in the resources industry in Asia (-37%).
Construction and mining equipment account for almost 90% of Komatsu’s revenue.
The world's largest equipment maker not only reported lower quarterly profits, but also cut its 2015 earnings forecast and warned its revenue would fall even further next year.
It also revised its guidance for 2015 down, saying sales and revenues for the year are now expected to be about $48 billion—$1 billion lower than the previous outlook.
It has a “smart” pump, boom works faster, and burns less fuel.
The machinery giant doesn’t think it will remain strong for the rest of 2015.
The company experienced a annual drop in the resource industries segment sales in every geographic region except Asia/Pacific.
The equipment maker brings the Lanter Festival to a remote Chinese village.
CAT keeps slashing costs as it tries to offset issues out of its control, such as the falling price for everything from iron ore to oil.
The analysts argued that as much as 15% of the machinery maker’s revenues are dependent on the oil and gas industry
Depressed oil prices may end up helping, CEO Doug Oberhelman added.
Well, they built it, so they were entitled to do whatever they wanted with the new Guinness World Record holder for the highest sand-made fort.
Report shows there are 39 assets in production within the Ebola-affected region.
The SEC is looking into Joy's acquisition of International Mining Machinery Holdings Ltd of China for about $1 billion and related accounting matters.
The equipment maker beat analysts' expectations and the stock is skyrocketing in premarket trading.
The equipment maker is scheduled to report third-quarter earnings Thursday.
Deutsche Bank warned Friday that gold producers are the most vulnerable to a further spread of the deadly disease.
Demand for Caterpillar's construction equipment and machinery has been slipping globally since the last quarter of the 2012 fiscal year.