Caterpillar’s Profits and Sales in Construction Machinery Pitched-up

October 21, 2010 / Elizabeth Buckley, Commercial Property Analyst

Caterpillar, the world’s biggest producer of excavators, wheel-loaders, bulldozers, and other construction machinery, stated that machinery sales-rate rose suddenly in Europe and North America, even construction activities in these areas still remains weak. The company’s third-quarter revenues pitched to 96 percent, for mining and construction companies starts reloading their machinery fleets.

Caterpillar’s Profits and Sales in Construction Machinery Pitched-up

Sales of construction machinery increased by 84 percent during the third quarter from last year to $US7.2 billion, while engine sales mounted to $3.25 billion—21 percent. Construction machinery sales in Africa, in the Middle East and in Europe have also increased by 60 percent, while sales in North America increased by 89 percent compared to last year.

Caterpillar’s chief executive Doug Oberhelman said that sales in most developed countries have enhanced significantly after a profound declines in 2009.

The company’s 2009 construction machinery sales fell 43 percent from 2008, as well as the North America sales which sank by 45 percent. The company credited the lift-up to the replacement of depleted construction machinery.

In general, the company expected their global Gross Domestic Product development to go above 3.5 percent for 2011.

Global employment for the company reached about 102,336 employees, including employees from the company’s recent acquisition, the Electro-Motive Diesel last August. Since the first quarter of 2010, the company said that it has added about 6200 full-time and about 9000 part-time employees.

Caterpillar has been refurbishing its manufacturing centers this year to enhance its production capacity in Brazil and China, as well as to other markets where speedy mine expansions and infrastructure construction are generating strong demand for construction machinery.

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