Mining equipment sales to fall in ’14: Caterpillar
Jan 29, 2014 | 02:19 PM
| 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 replacementsand its 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 Caterpillars 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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