CAT said it remains committed to existing customers.
Caterpillar Mining News
The deal still remains subject to closing conditions and regulatory clearances.
Caterpillar updates Cat® MineStar™ Terrain with new features that optimize mining productivity and operating costs
Caterpillar announces an upgrade to Cat® MineStar™ Terrain, one of the capability sets that makes up the company’s integrated mine operations and mobile equipment management system.
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 company will also discontinue production of track drills.
CAT said commodity prices remain on the low end and had yet to translate into increased mining activity or higher demand for equipment.
Product launch and acquisition are the key growth strategies adopted by the leading market players, such as Caterpillar and Komatsu, to strengthen their foothold in the market.
More than 70 pieces of equipment are on site.
"The shift schedules are demanding. The work is repetitive. There are issues trying to keep people engaged in the work that they are doing."
"Coal has always had a cost focus."
Caterpillar will support MINExpo 2016 with an exhibit showcasing machines, technology, expertise and practical knowledge that miners can apply to help address their cost, productivity and efficiency challenges in today’s mining environment.
Industry bellwether Caterpillar's global mining equipment sales drop 42% as Asia-Pacific and Latin America orders fall off a cliff.
The layoffs are on top of the 1,900 positions Finning decided to axe last year.
Formerly vice president with responsibility for the Material Handling & Underground Division.
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.
A survey of over 100 mining equipment buyers and decision-makers shows that 40% of them are still focused on cost cuts.
Curfman joined Caterpillar in 1994.
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.
Strong greenback is another drag.
More cuts at the East Peoria, Illinois campus.
Asia up 40% but Latin America down 47%.