August Business News: American Augers, Godwin Pumps, Caterpillar and more

August 2009 Vol. 64 No. 8

More cuts are planned, including the elimination of 100 information technology jobs at its Maplewood headquarters over the next 12 months.

3M has gone through several rounds of job cuts since the economy slid into a deep recession last fall. Its total number of layoffs now stands at 2,200 for the first half of the year and 2,400 in 2008. The company employs nearly 80,000 workers around the world.

With the recession taking a toll on customer demand, the manufacturer has taken a heavy battering, with first-quarter 2009 income falling more than 47 percent. 888.364.3577, www.solutions.3m.com

AIU Holdings offers large infrastructure project insurance
AIU Holdings is introducing ReBuild — a suite of products and services designed to provide comprehensive insurance protection for states and municipalities receiving American Recovery and Reinvestment Act of 2009 funds for use in large infrastructure projects.

ReBuild covers project owners and construction firms engaged in public and private infrastructure construction that can include roads, highways, bridges, tunnels, sewers, water systems, power facilities and other similar projects. ReBuild offers clients one point of entry and economies of scale to create customized insurance solutions for these projects. Coverage can include primary and excess casualty, workers’ compensation, builders’ risk, surety and environmental insurance.

In addition, ReBuild can provide clients with up to $25 million in professional liability coverage for architects and engineers and as much as $100 million capacity for builders risk for infrastructure coverage. The AIU Holdings companies will underwrite and issue policies for clients using ReBuild. The policies will be serviced by a dedicated claims team.

For more information about ReBuild, contact Thomas Boudreau at 212.458.1470 or tom.boudreau@aiuholdings.com, or visit www.aiuholdings.com.