Caterpillar’s outlook dims on mining investment drop-off

Apr 23, 2013 | 04:49 PM | Corinna Petry

Tags  Caterpillar Inc., business outlook, mining investment, drop-off, mining equipment sales, coal, natural gas, Mike DeWalt Doug Oberhelman

CHICAGO — Caterpillar Inc.’s resource industries group saw sales decline in the first quarter as mining investment growth slowed worldwide and North American utilities continued to adopt natural gas as a fuel.

"Almost all the decline we saw was in North America, where coal mining has been down" and exports have reached "record" levels amid a weak domestic market, corporate controller Mike DeWalt said during an April 22 earnings call.....





Latest Pricing Trends

Poll

Is severe weather affecting your business?

Yes
No


View previous results

AMM Events