Caterpillar’s outlook dims on mining investment drop-off
Apr 23, 2013 | 04:49 PM
| Corinna Petry
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.....
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