Industry News

AgriMarketing.com (December 1, 2008) - The inaugural auction from Cat Auction Services held November 12 in Des Moines, Iowa, was met with great enthusiasm from both buyers and sellers. A total of 275 pieces of equipment were sold garnering $8.85 million as 499 on-site and 327 online bidders from 14 states and nine countries, including Mexico, Canada and Egypt.

International Construction (November 27, 2008) - Hyundai Heavy Industries (HHI) has invested US$ 52 million in a new construction equipment factory in Pune, Maharashtra, in Western India the company announced in a statement.

CNNMoney (December 1, 2008) - China Yuchai International Limited announced today that it expected its unaudited net income for 2007 to fall within the range of RMB 500 million and RMB 555 million. The Company’s unaudited earnings per share range between RMB 13.41 and RMB 14.89.

Diesel Progress (November 26, 2008) - Zoomlion is looking to invest more overseas and is examining buying further non-Chinese companies, Diesel Progress was told at the bauma China exhibition in Shanghai. The Chinese construction machinery company, which recently bought Italian concrete machinery maker CIFA, also plans to build 35 branches and offices overseas and 160 service and support locations.

Diesel Progress (November 25, 2008) - Bucher Hydraulics announced that it is acquiring Command Controls Corp., a U.S. company specializing in the manufacture of hydraulic cartridge valves. Based in Elgin, Ill., Command Controls generated approximately $10.9 million in sales last year with 91 employees. The parties have agreed not to disclose the purchase price and there was no indication as to when the purchase would be final.

Diesel Progress (November 25, 2008) - Perkins has taken a major step in a major market as it has commenced operations at its new factory at Wuxi, near Shanghai, China. The facility, on a 207,000 m2 plot, will eventually produce the 400 and 1100 Series diesel engines.

AP via Yahoo Finance (November 26, 2008) - The defense-related division of Oshkosh Corp. has been awarded a $51 million contract to provide armor upgrades for military vehicles. Oshkosh Defense said Wednesday the contract calls for 660 armor kits to protect a specific type of heavy Army truck.

Caterpillar (November 24, 2008) - Cat Forest Products played a major role in the 2008 American Loggers Council (ALC) Annual Meeting by sponsoring several activities, including a plant tour and in-woods demo. The event was held in Montgomery, Ala., September 25-27. Attendance was up from the previous year with 248 loggers, associate members and supporters representing 28 states.

Concern Tractor Plants (October 23, 2008) - This was indicated by marketing evaluations of the leading companies in products sales in Russia, 2007 and published by “Expert” magazine. Last year Tractor Plants Holding had sales in sum of 34 243, 8 mln rubles (36.9%), exceeding the previous year’s (2006) performance.

AP via BusinessWeek (November 26, 2008) - Deere & Co., the world's largest maker of farm machinery, reported an 18 percent decline in fiscal fourth-quarter profit Wednesday as costs tied to the closure of a facility in Canada weighed on results.

Lift and Access (November 24, 2008) - The Liebherr Group recently began the construction of a production site in the Nizhny Novgorod region of Russia. Liebherr-Nizhny Novgorod OOO will be producing and assembling construction machines such as earth-moving machines or tower cranes.

Lift and Access (November 25, 2008) - Brax Snyder, manager of worldwide sales for Lexington, Ky.-based Link-Belt, announced the appointment of two district managers. The company has named Gary Lane as district manager for the upper Midwest region of the United States.

MarketWatch (November 26, 2008) - U.S. stock index futures were lower Wednesday, with shares set to snap a three-session winning streak, after a sharp drop in both durable goods orders and consumer spending.

CNNMoney (November 26, 2008) - Deere & Company (NYSE: DE) today announced worldwide net income of $345.0 million, or $0.81 per share, for the fourth quarter ended October 31, compared with $422.1 million, or $0.94 per share, for the same period last year.

ForConstructionPros.com (November 24, 2008) - Terex Construction offers a dedicated compact equipment line, distributed throughout North America. The compact equipment line includes both Terex-branded compact track loaders, featuring the ASV Posi-Track undercarriage technology, and a portfolio of offerings from Terex, including compact excavators, compact wheel loaders, site dumpers, tractor loader backhoes, light towers, telehandlers, power buggies, and tandem asphalt rollers. The compact equipment line will focus exclusively on the needs of this key market segment.

USAgNet (November 24, 2008) - Sukup Manufacturing Company, founded 45 years ago in Sheffield, wins the coveted Renew Rural Iowa entrepreneur of the month award for November. Sukup Manufacturing owns and operates their main manufacturing facility in Sheffield, but also owns and operates distribution centers in six other Midwest states. They make bin unloading equipment, grain dryers, grain bins and a variety of other grain handling accessories.

The Kansas CW (November 21, 2008) - It's something you don't hear about much these days, companies expanding, but Great Plains Manufacturing says it can do it, despite the current state of the economy, and it knows that because it produces farm equipment.

Wisconsin Ag Connection (November 24, 2008) - Six year after the Kuhn farm equipment group purchased the Brodhead-based Knight Manufacturing, the newly merged companies will be dropping the 'Knight' name from its business. The company announced last week that Kuhn Farm Machinery Inc., the North American marketing and distribution arm of Kuhn Group, and Kuhn Knight Inc. will legally merge as one business called Kuhn North America Inc. However, the news does not mean the 'Knight' brand name will be dropped from their agricultural products.

TradingMarkets.com (November 22, 2008) - Hyundai Heavy Industries Co. said Thursday that its orders for construction equipment sank 35 percent in October.

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