Caterpillar Inc., the world’s top producer of construction and mining equipment, said it will idle more factories and production lines as orders slump due to slowing demand.
“Dealers are buying less than they are selling,” Mike DeWalt, director of investor relations for Peoria-based Caterpillar, said at the Robert W. Baird 2012 Industrial Conference in Chicago.
With the global sales decreasing as inventory builds up, new equipment orders have waned in recent months.
Share new hires, promotions and employee accolades with the region's business leaders.
Up-to-the-minute business news, thoughtful analysis and valuable strategic insights for Milwaukee and Southeastern Wisconsin business leaders.
Copyright © 2024 BizTimes - Milwaukee Business News. All Rights Reserved.
Holiday flash sale!
Limited time offer. New subscribers only.
Subscribe to BizTimes Milwaukee and save 40%
Holiday flash sale! Subscribe to BizTimes and save 40%!
Limited time offer. New subscribers only.
