Heavy equipment expected to see gains
Sep 11, 2013 | 03:34 PM
| Catherine Ngai
SCHAUMBURG, Ill. Heavy equipment and industrial end markets will see favorable gains in the next three to five years on the back of a booming energy sector, low-cost feedstock for industrial products, recovery in the construction markets and the need for new infrastructure, according to analyst Eli S. Lustgarten, senior vice president of Longbow Securities LLC, Cleveland.
But sluggish mining conditions and an uncertain agricultural equipment market may pose a challenge before things get better, he said.
While industrial activity picked up globally and peaked near mid-2012, global uncertainty led companies to complete major projects and approve few new programs, Lustgarten told delegates during the Metals Service Center Institutes Economic Summit in Schaumburg.....
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