News for Caterpillar
Feb 16 · 2:28:00 PM · Source: Reuters
BP plc, ConocoPhillips and Caterpillar are quitting the U.S. Climate Action Partnership, a broad group of businesses and environmental organizations that has been instrumental in building support in Washington for capping U.S. emissions of greenhouse gases.
BP plc, ConocoPhillips and Caterpillar Inc. have decided against renewing their membership in the organization.
· Related: BP
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by Michael Oliveto
Feb 12 · 12:41:00 PM · Source: Reuters
Caterpillar Inc. announced that United Against Nuclear Iran (UANI) renewed its call for Caterpillar to end its business in Iran.
The Office of Foreign Assets Control (OFAC) at the U.S. Department of Treasury yesterday announced that it was taking action to implement existing sanctions against Iran's Islamic Revolutionary Guard Corps (IRGC).
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by Michael Oliveto
Feb 9 · 2:30:00 PM · Source: Company Press Release
Caterpillar Inc. today announced its intent to join the
FutureGen Alliance, a public-private partnership established to build a first-of-its-kind coal-fired, near-zero emissions power plant in Mattoon, Illinois.
The FutureGen facility is designed to be the cleanest coal burning plant in the world and will integrate advanced technologies for coal
gasification, electricity production, emissions control, carbon dioxide (CO 2) capture and permanent storage and hydrogen production on a commercial scale.
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by Michael Oliveto
Nov 14 · 4:33:00 PM · Source: Reuters
Caterpillar and the law firm of Schlichter, Bogard & Denton announced that they have reached a tentative settlement of Martin, et al. v. Caterpillar Inc., et al.
The case involves a dispute over the administration of four 401(k) plans for Caterpillar employees and retirees. Under the tentative settlement, which must be approved by an independent fiduciary and the judge, Caterpillar will pay $16.5 million.
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by Michael Oliveto
Oct 27 · 12:19:00 PM · Source: Herald Tribune
Caterpillar said about 2,500 laid-off employees will be permanently cut from the company and 550 others will be brought back to work by the end of next year.
The workers are among more than 22,000 laid off earlier this year as Caterpillar dramatically scaled back production because of weaker demand amid the global economic downturn.
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by Michael Oliveto
Oct 26 · 3:35:00 PM · Source: Company News Release
Caterpillar the world's biggest maker of heavy machinery, said Monday it plans to permanently cut 2,500 workers even as increasing demand will allow it to recall some employees who were laid off during the economic downturn.
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by Larry Etter
Oct 22 · 10:50:00 AM · Source: News Release
Caterpillar Inc. said it is promoting Douglas Oberhelman to chief executive officer to replace Jim Owens, who plans to retire next year.
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by Larry Etter
Oct 20 · 10:41:00 AM · Source: Dow Jones
Caterpillar Inc. (CAT) exceeded third-quarter profit expectations by a wide margin as the company slashed its costs in response to continued falling sales of construction machinery.
The company's revenue in the quarter plunged 44% from a year ago, while income fell 53%. But Caterpillar said its sales skid has likely reached a bottom, prompting the company to narrow its profit range for 2009 and predict revenue this year would be about $32.5 billion, the lower end of its earlier range.
The company now expects to earn $1.85 per share to $2.05 a share, excluding costs for layoffs and idle plants, compared with its previous prediction of $1.15 per share to $2.25 per share
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by Larry Etter
Oct 15 · 11:40:00 AM · Source: Reuters
Caterpillar declared a quarterly dividend of $0.42 per share.
"Team Caterpillar's remarkable performance and rapid response to the global
economic downturn over the last year has been a fundamental factor in our
ability to maintain an attractive dividend," said Caterpillar Chairman and
Chief Executive Officer Jim Owens. "Our financial strength during this
recession enables Caterpillar to continue a long tradition of rewarding
stockholders. In fact, over the last 10 years, our total stockholder return
(stock appreciation plus dividends) is more than 200 percent."
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by Michael Oliveto
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