Tenneco to develop after-treatment systems for Caterpillar diesel engines
Tenneco has announced a global system integration supplier relationship with Caterpillar, pursuant to which it will work with Caterpillar to develop and produce diesel engine after-treatment systems. Tenneco will collaborate with Caterpillar to ensure that the right technologies are in place to support the company’s after-treatment strategies. Both companies have already begun development work for these programs.
Gregg Sherrill, chairman and CEO of Tenneco, said: “We are extremely excited to work with Caterpillar in helping address its global emission control needs going forward. We plan to leverage our advanced technology, and global engineering and manufacturing footprint to support Caterpillar in its relentless drive to provide customers with innovative products worldwide.”
Macquarie takes lead in Asian stock rally
Asian stocks rose for a third day yesterday, led by banks and airlines, after Macquarie Group Ltd said it made a “solid” start to the year and oil fell to a six-week low. Macquarie, Australia’s biggest securities firm, climbed the most in almost four months, Bloomberg News reported. Korean Air Lines Co and Qantas Airways Ltd rose on expectation their fuel costs will fall.
Komatsu Ltd, the No. 2 maker of earth movers, gained after rival Caterpillar Inc raised its sales forecast. India’s Sensitive Index surged the most in three weeks after Prime Minister Manmohan Singh’s government retained the support of parliament. Read more
Caterpillar’s 2Q profit rises 34 percent as stronger sales outpace material, freight costs
Caterpillar Inc.’s second-quarter profit jumped 34 percent as stronger sales in developing countries outpaced slowing growth in North America and higher raw material and freight costs.
The Peoria, Ill.-based maker of backhoes and other heavy equipment on Tuesday reported profit of $1.11 billion, or $1.74 per share, for the three months ended June 30, compared with $823 million, or $1.24 per share, a year earlier. Read more
Caterpillar Runs Plant On 100% Wind Power
As of May of this year, all electric power for Cat’s FG Wilson manufacturing plants in Northern Ireland is supplied by Airtricity, a renewable electricity that develops and owns onshore and offshore wind farms. This is Cat’s first production site to be 100 percent supplied by renewable electricity.
The companies say the facilities will reduce CO2 emissions by approximately 11,000 tons per year.
Cat was also one of the original members of the U.S. Climate Action Partnership, a group of companies and environmental groups that have called on the federal government to enact strong legislation to regulate greenhouse gases.
Caterpillar raises prices by as much as 5 percent
Caterpillar Inc , the world’s largest U.S. maker of construction and mining equipment, said on Tuesday it is raising product prices by as much as 5 percent due in part to surging demand.
The company, which has seen demand for its mining equipment jump as a result of rising commodity prices, said in a regulatory filing that the action “is a result of current general economic conditions and industry factors.
Caterpillar spokeswoman Rachel Potts said that “as a whole, this price action represents an upward adjustment for Caterpillar machinery and engines,” but added that “there are some models in certain regions that may not require an adjustment in price.” Read more
Caterpillar Announces Plans to Build Small-Sized Hydraulic Excavators in China
Caterpillar Inc. NYSE: CAT announced today plans to build world-class small-sized (less than 20 tons) hydraulic excavators in Nanjing, Jiangsu province, China. This facility fits into Caterpillar’s China and emerging markets, strategy, and it will be a key element of the company’s worldwide excavator manufacturing footprint. The announcement follows the signing of an investment agreement between Caterpillar and Jiangning Science Park Administrative Committee (JSPAC). The proposed facility will be located in the Jiangning Science Park district (JSP) and wholly owned and operated by Caterpillar.
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