May 2010 Business News

March 2010 Vol. 65 No. 3

Caterpillar
As part of a long-term strategic initiative, Caterpillar, is conducting a study that could lead to a new hydraulic excavator facility being built in the United States. Such a move could triple the current capacity of hydraulic excavators now produced by the company in the U.S. and could double the number of Cat employees in the U.S. dedicated to excavator production, and further leverage excavator production in Japan to serve increasing demand in China and across Asia.

Currently, the company only produces two excavator models at a facility in Aurora, IL, where it also produces wheel loaders, soil and landfill compactors, wheel dozers and components. In addition, Caterpillar produces excavators in Belgium, Brazil, China, France, Indonesia, Japan and Russia. If the contemplated decision were finalized, the new facility would manufacture the two models now made in Aurora, as well as several additional excavator models now produced in Japan and exported to the U.S.

Ritchie Bros.
American buyers generate 74 percent of gross auction proceeds at Richie Bros. Auctioneers’ unreserved public auction. Ritchie Bros. sold more than $42 million of heavy equipment during a two-day unreserved public auction, March 24-25 at the company's permanent auction site in Houston, TX. Bidders from 53 countries, including 48 U.S. states, 10 Canadian provinces and one territory registered to participate on-site and online at www.rbauction.com to compete on more than 3,300 lots sold during the multi-million dollar Texas auction.

More than 1,300 of the registered bidders participated online and purchased more than $12 million (30 percent of gross auction proceeds) of heavy equipment, trucks and real estate during the auction. 713.455.5200, www.rbauction.com