Dozer Manufacturer Caterpillar Has $60 Billion Sales 11/03/2008

Exceeding their sales prediction by nearly 20 percent, Caterpillar the worlds largest maker of dozers and excavators, had to raise its sales forecast for 2010 to $60 billion. The increase is a 33 percent jump from last year and it looks to be an increase for the next two years. Caterpillar said they are benefiting from sales of their dozer and excavators mostly to North America and Europe. The markets in China, Russia and South Africa have nearly doubled the demand for machinery sales since 2003.

Chief Executive Officer of Caterpillar Jim Owens told investors that decaying infrastructure is one reason the dozer is in high demand, “We’ve got crumbling bridges and roads here in North America and were going to have to spend significantly to fix that.” He went on to say, “The same is true of Western Europe. The emerging markets are building from the ground up.” The New York Stock Exchange rose the highest level in five years yesterday after the Federal Reserve injected $200 billion into the financial system to help banks with the mortgage related crisis.

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