Archive for January 28th, 2010

Cummins Earnings Almost Triple (2005-4-25)

Diesel engine maker Cummins Inc. reported higher-than-expected first-quarter earnings on improved margins, strong joint-venture performance and increased sales in each of its business units, sending its shares up more than 8 percent.The company also sharply raised its full-year sales and earnings forecasts, citing strond demand and more efficient operations.Net income almost tripled to $97 million, or $1.96 a share, from $33 million, or 76 cents a share, a year earlier.Analysts on average were expecting $1.57 a share, according to Reuters Estimates.Sales increased 25 percent ot $2.21 billion from $1.77 billion a year earlier, also exceeding estimates.Cummins, based in Columbus, Indiana, said it expects 2005 earnings of $9 to $9.20 a share, up from its previous forecast of $8 to $8.20 a share.For the second quarter, it estimated earnings at $2.25 to $2.35 a share.According to Reuter Estimates, analysts\' forecasts have averaged $2.24 a share for the second quarter and $8.32 for… Continue reading

Volvo Posts Higher 1Q Profit (2005-4-26)

Truck and bus maker Volvo AB on Monday posted a 34 percent gain in first-quarter net profit as demand grew in North America.Sales rose 14 percent to 52.25 billion kronor (euro5.70 billion; US$7.44 billion), from 45.85 billion kronor in the year-earlier period.Net profit was 3.25 billion kronor (euro355 million; US$463 million), or 7.93 (euro0.87; US$1.13) per share, up from 2.43 billion kronor, or 5.75 kronor per share, in the first quarter of 2004.Demand was up in North America, where Volvo said it expects the market for heavy trucks to grow by 15-20 percent this year. Market growth in Europe was expected to be slower, at 0-5 percent, Goteborg, Sweden-based Volvo said.Volvo shares were down 0.5 percent to 306 kronor (euro33.4; US$43.6) in morning trading on the Stockholm exchange.Volvo, which sold its car division to U.S.-based Ford Motor Co. in 1999, also makes buses and construction equipment, including loaders and lifters. Its… Continue reading

New Trade Shows For Asia (2005-4-25)

The Assocation of Equipment Manufacturers (AEM) and Handley Wood LLC have agreed to co-locate two construction industries trade in China. CONEXPO Asia and World of Concrete Asia. The first event is scheduled for Beijing in May of 2006. AEM will own and produce CONEXPO Asia while Hanley Wood will own and produce World of Concrete Asia. E.J. Krause & Associates, one of China\'s leading organizations, will provide exhibition management to the co-located and will hold an equity interest in both events.The AEM-Hanley Wood plan calls for the co-located CONEXPO Asia and World of Concrete Asia shows to be held on a triennial basis beginning with the 2006 expositions. Show organizers intend the co-located expositions to be part of a three-year cycle of global construction industry shows alternating with CONEXPO-CON/AGG in North America and BAUMA in Germany. Beijing was chosed as the location for the first co-located event because of its importance… Continue reading

Volvo considers expanding North America operations (2005-4-26)

Volvo, the Swedish truck and machinery group, is considering expanding two factories in North America to capitalise on rising demand for construction equipment and to offset problems caused by the weak dollar.Tony Helsham, chief executive of Volvo\'s construction equipment operations, said the company\'s construction equipment operations could increase its output by 10 percent this year-but faced limitations in factory capacity.(From ft.com) … Continue reading

Caterpillar Introduces Euro III Compliant C13 Engine (2005-4-26)

Caterpillar has announced the development of a Euro III emissions compliant C13 engine with ACERT Technology, which will be available beginning in July.The C9 already is certified to Euro III and is available. Over time, the entire Caterpillar engine line will be certified to Euro III, and these engines will replace the previous Cat models that have been available for several years.The power and torque of the C13 engine are matched to the European driving environment. The C13 provides a payload-pulling package with a high power-to-weight ratio, excellent fuel economy, reliability and million-mile durability.Available ratings will include 395 hp (400 PS), 445 hp (450 PS) and 485 maximum hp (490 PS) with peak torque at 1,450 lbs.-ft., 1,550 lbs.-ft. and 1,650 lbs.-ft. at 1,200 rpm and a governed speed of 2,100 rpm. Caterpillar also is working on a 500 maximum hp rating that will provide 1,750 lbs.-ft. of torque at 1,200… Continue reading

Metso Minerals supplies machinery for Brazilian watershed management project (2005-4-27)

Mesto Minerals is supplying an estimated 1.6 million tons of aggregates to Construtora Triunfo for construction of the Santa Clara and Fundao Watershed Management projects in Brazil.Brazilian contractor Construtora Triunfo is relying on a complete line of crushing, screening, recovery and ore storage equipment from Metso for the two dams on the Jordao River. Located in the counties of Candoi, Pinhao and Foz do Jordao. The projects will have a combined generating installed capacity of 238MW, serving around 2.5 million consumers.The Metso equipment is installed on the Santa Clara Watershed Management job site and will have its production directed to other Triunfo projects as soon as the two dams are completed.(Source: International Water Power and Dam Construction) … Continue reading