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Article: Heavy equipment makes a big push overseas.(Business)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- March 29, 2008
CopyrightCOPYRIGHT 2008 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Illinois-based Caterpillar had its best year in 2007, with profits of $12.3 billion, thanks largely to overseas sales. Caterpillar Inc.'s drop in 2007 North American machinery sales, blamed on the slowdown in new-home construction. By David Mercer
The Associated Press
CHAMPAIGN, Ill.
Caterpillar executives talk a lot these days about how 2007 had the makings of a disaster. Its truck engine and construction equipment sales in North America plunged and the sluggish U.S. economy offered no hope of a quick turnaround.
Yet the Peoria, Ill.-based company had its best year, with profits of $12.3 billion and almost $45 billion in revenue, ...