Mining equipment sales to fall in ’14: Caterpillar

Jan 29, 2014 | 02:19 PM | Corinna Petry

Tags  Caterpillar, mining equipment, ore production, off-highway truck, Mike DeWalt, Doug Oberhelman, Bradley Halverson, Corinna Petry

CHICAGO — Sales of heavy-duty, high-capacity trucks and other mining equipment continue to lag as miners squeeze more production out of existing assets and are slow to invest in replacements—and it’s hard to say how long the trend will persist, Caterpillar Inc. executives said during a Jan. 27 earnings conference call.

Last year was "a tough year," vice president of strategic services Mike DeWalt told analysts during the call. Sales declined sharply in Caterpillar’s resource industries division, which is principally mining. "That substantial decline was the result of both lower demand from mining customers and from changes in dealer inventory," he said.....





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