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.
Read more in Crain’s Chicago Business.
