Archive for February 27th, 2010

Deere Posts Slight Decline in 3Q Earnings,forecast is cut (2005-8-17)

Deere & Co.\'s profit dipped slightly in its fiscal third quarter as dry weather gripping parts of the nation curbed demand for its trademark farm machinery and lawn-care equipment, the company reported Tuesday.Farm and garden equipment maker Deere & Co. on Tuesday said widespread drought in the United States caused an unexpected decline in quarterly earnings and forced it to cut its full-year forecast, sending shares down almost 9 percent. (Source: yahoo.com) … Continue reading

Liebherr boosts turnover (2005-8-18)

Liebherr Group boosted its turnover by €502 million or 12.3% to €4,590m during 2004. Turnover in the mobile cranes division rose by €121.6m or 14.1% to €985.2m. The construction cranes and mixing technology division also increased its turnover by €70.8m or 21.7% to €397.6m.The maritime cranes division, which encompasses harbour mobile cranes, ship cranes, offshore cranes and container cranes, increased its turnover by €13.6m or 5.3% to €271.5m. Turnover from harbour mobile cranes and container cranes rose significantly while sales from ship and offshore cranes could not quite reach the previous year figure.Western Europe accounts for 66% of the Group turnover, and remains its most important market. In the 2004 business year, the Liebherr Group invested a total of €252.6m worldwide. The number of employees in the Group went up by 1,185 to 22,245. Liebherr claimed its outlook remained positive, despite price rises: "Operating margins are under considerable pressure, since it… Continue reading

Palfinger achieves record results (2005-8-19)

Austrian loader crane supplier Palfinger has reported a revenue rise of 32% in the first half of 2005. Compared with the same six month period in 2004, Palfinger increased its revenue by €63.3m to €253.9m. Earning before interest and tax (EBIT) rose by 118% to €37.4m.Consolidated net profit was more than doubled to €27.7m.The company said: the high level of capacity utilization, the positive performance of the market, good progress in all business areas and the high standard in product development were mainly responsible for the best result in history.CEO Wolfgang Anzengruber, added: thanks to these four reasons Palfinger will continue to achieve record results also for the full year.Cranes remain the company\'s core business, although Epsilon, the forestry cranes division, posted record results, while, as expected, Bison (the work platform division) dragged down the results due to recolation and integration costs to the Eastern European production site. Guima (hook loaders)… Continue reading

Komatsu Forklift USA, Inc. Replaces Kalmar AC Brand of Fork Lifts Aimed at Boosting Productivity and (2005-8-18)

Komatsu Forklift USA, Inc. announces a new division and a new brand of forklifts to be known as Tusk Lift Trucks. Tusk Lift Trucks will replace the Kalmar AC forklift brand which will be phased out over the new few months. Unlike conventional brands, Tusk was developed to change the way the forklift owner thinks about ownership. Highly engineered, the Tusk trucks have easily accessible engines and comfortable operator compartments, resulting in minimum down time and maximum productivity. In a statement about the new brand, Vice President of Marketing Eric Kobori said, "We built this product for the experienced, streetwise forklift buyer who understands that the real costs of owning a lift truck encompass much more than just acquisition price. Tusk is quitely simply the smartest by on the market...for the smartest buyer."As part of the launch, the company will revamp the company\'s dealer support system. Dealer Development Manager, Tom Thomas… Continue reading

Volvo Group to Provide Financial Services in China (2005-8-19)

The Volvo Group has applied to establish a wholly owned finance company in China to offer financing solutions for its commercial transport customers and dealers. The new company, to be named "Volvo Group Automotive Finance (China) Ltd.\'\', will be based in Beijing and expects o start operations in 2006."To ou knowledge, we are the first applicant for a Chinese automotive finance company license with a main focus on providing commercial transport solutions," says Gordon Chan, President of Region Asia for Volvo Financial Services. "Offering financing in China is of strategic importance to Volvo, given the Volvo Group\'s increasing investment in China."Volvo Financial Services will be the latest business area within the Volvo Group to establish operations in China. Today, Volvo Trucks, Volvo Buses, Volvo Penta and Volvo Construction Equipment all have production facilities and dealer and service networks in China. Renault Trucks is also expanding its dealer and service networks in… Continue reading

Cat Signs Three Deals in China (2005-8-22)

Caterpillar Inc. subsidiaries in China have signed three non-binding memoranda of understanding (MOUs) with an industrial park development company affiliated with the Shanghai Municipal Government. The three MOUs all involve the Shanghai Lingang Economic Development Co., Ltd. The potential deals include Caterpillar Remanufacturing Services establishing the Lingang Industrial Area as its center in China to support Caterpillar customers and dealers in China and the Asia Pacific region. The Lingang Group and Caterpillar reaffirmed their commitment to Caterpillar\'s China Distribution Center in the Lingang Industrial Area and to establish a regulatory system that facilitates trade and investment in the region. Third, a proposed service consortium alliance between Caterpillar Logistics Services and Lingang Group would establish a service center to attract investors and clients to the Lingang Industrial Area.(Source:dieselpub.com) … Continue reading