June Business News

June 2010 Vol. 65 No. 6
The ribbon-cutting ceremony at CONTECH's new facility in Guanajuato, Mexico.

Updates from Akkerman, GTI, Vermeer, CONTECH, Caterpillar, Ditch Witch, CNH, ADS, Lockwood Andrews & Newnam, SAK and more.

Trenchless equipment manufacturer Akkerman Inc. is expanding into new markets, having recently appointed representatives in the Middle East, India, Russia and Singapore.

The US-based manufacturer of microtunneling, pipe jacking, guided boring and earth pressure balance equipment will be represented in the United Arab Emirates by Trenchers Land Digging & Filling LLC.

Asia Contech Inc., based in New Delhi, will facilitate sales of Akkerman equipment in India. Singapore-based International Construction Equipment Far East will also represent the company in Asia.

Finally, Intertorg, a US-based company with experience in the Russian trenchless market, will become an Akkerman agent from its Moscow office. 800.533.0386, www.akkerman.com

Supporting its long-term strategy, considering officer retirements and recognizing the need to create a leaner, more agile, customer-focused company, Caterpillar has announced a number of executive changes and a streamlined corporate structure. Vice Chairman and CEO-Elect Doug Oberhelman is leading a team that is updating the company’s strategy, which was first introduced by Jim Owens, Caterpillar's chairman and CEO, in 2005.

Once Oberhelman becomes CEO, effective July 1, he will not be replaced as a group president. As such, the number of Caterpillar group presidents will be reduced from six to five. The chief financial officer (CFO) and chief legal officer (CLO) will report directly to the chairman and CEO. Group President Ed Rapp will become CFO and will lead many of the company’s corporate services divisions. Jim Buda, vice president, general counsel and secretary, also will report directly to the chairman and CEO.

The new structure will consolidate traditional corporate divisions, reducing the number from 32 to 29. These changes also will result in a number of new responsibilities for some vice presidents.