KOREA
New Hyundai Heavy Technology Slashes Shipbuilding Time
Hyundai Heavy Industries said Sunday that it has developed a new technology that makes it possible to launch a completed ship while continuing shipbuilding work at the same dock.
Hyundai Heavy Industries said Sunday that it has developed a new technology that makes it possible to launch a completed ship while continuing shipbuilding work at the same dock.
"The new technology is expected to help reduce the terms of works by almost 20 percent because we no longer have to stop building ships to launch a completed ship," a company source said. "The number of days working at a dock will decrease by 13 days from 70, and it will make it unnecessary to remove and install again various facilities and equipment."
JAPAN
Caterpillar CEO says U.S. probably in recession
TOKYO (Reuters) - The chief executive of Caterpillar Inc, the world's largest maker of earthmoving equipment, said the United States economy is probably in a recession but would likely recover from late this year.more stories like this.
TOKYO (Reuters) - The chief executive of Caterpillar Inc
Caterpillar Chairman and CEO Jim Owens made the comments at a news conference in Tokyo to announce that the firm was raising its stake in a joint venture with Japan's Mitsubishi Heavy Industries Ltd <7011.t>.
USA
NEW YORK, USA
Heavy equipment sales prosper abroad
(AP) - THE COMPANIES: American heavy-equipment makers such as Caterpillar, Deere & Co. (NYSE:DE) and Manitowoc Co. (NYSE:MTW) have so far dodged the slowdown in the U.S. economy, relying on increasing sales volume overseas to report high profits even with a recession looming.
(AP) - THE COMPANIES: American heavy-equipment makers such as Caterpillar, Deere & Co. (NYSE:DE) and Manitowoc Co. (NYSE:MTW) have so far dodged the slowdown in the U.S. economy, relying on increasing sales volume overseas to report high profits even with a recession looming.
THE ECONOMY: The U.S. economy has slowed to a growth rate of just over 2 percent for 2007 and is forecast to slow even further this year. Economies in developing markets such as Russia, India and the Middle East, though, are booming on new oil wealth and the development of other industries.
Heavy equipment companies take refuge in overseas markets
CHAMPAIGN, Ill. (AP) - Caterpillar, Deere and other companies that make heavy equipment are enjoying some of their best financial results in years -- and doing it as the American economy grinds toward recession.
The companies are enjoying the building booms going on in China, India, Russia and the Middle East. In those places, the demand for backhoes, cranes and tractors is on the rise.
Peoria-based Caterpillar, for instance, recently reported a 13 percent increase in profits despite an eleven percent drop in North American sales.
Still no updates on stolen bulldozer
Detectives are still on the lookout for a 17,000-pound piece of construction equipment stolen Jan. 30 from the Morning Sun community.
Rick Watson of Conway, owner of the yellow Caterpillar D4CXL bulldozer, reported the missing vehicle Jan. 31 to the Criminal Investigation Division of the White County Sheriff’s Department. Valued at $45,000, the dozer had less than 3,000 hours on it and was parked in the 3700 block of Hwy. 367 just outside the Searcy city limits. The serial number, 1FWO465, has been entered into the databases of the Arkansas Crime Information Center and the National Crime Information Center, and if located anywhere in the United States Watson and the sheriff’s department will be notified.
Metal thieves spill chemical into Benton County pond
CORVALLIS, Ore. (AP) — Scrap metal thieves who sawed down a decommissioned power pole last week caused an estimated $100,000 damage and spilled roughly 180 gallons of oil mixed with a hazardous chemical, the Benton County Sheriff's Office said.
The theft of $443 worth of copper wiring was reported to police last week. It happened on property owned by the Knife River Corporation.
Authorities believe the chemical might have spilled into a nearby pond. Bill Mason, a clean-up specialist with the Oregon Department of Environmental Quality, said Knife River hired a private contractor to contain and investigate potential contamination.
Steel Costs Set to Add Fiver Percent to Volvo Construction Equipment Prices
Restricted supply and burgeoning demand for steel, especially in China, has led to the cost of iron ore rising by over 70% on the worldwide markets. This has resulted in a sharp increase in the price of steel and consequently in the production costs of manufacturers of construction equipment. To offset some of the impact of these rises, Volvo Construction Equipment will increase the prices of its machines, attachments and parts by five percent.
"Manufacturers of heavy construction equipment are being particularly hard hit by the current record prices of commodities, such as steel, oil, iron ore and rubber," says Mr. Scott Hall, Executive Vice President of Volvo Construction Equipment. "With no sign of commodity prices cooling in the foreseeable future it has become unavoidable that these costs be offset in the form of a price increase."
Caterpillar taking control of Japanese joint venture
Caterpillar Inc., moving to boost its presence in the booming Asia-Pacific market, on Wednesday unveiled an approximately $500 million transaction that will boost the heavy-equipment giant's 50 percent ownership stake in a Japanese joint venture to a controlling 67 percent.
For more than four decades, the Peoria-based manufacturer and Japan's Mitsubishi Heavy Industries Ltd. have operated an equally owned venture that makes Caterpillar-branded construction and earthmoving equipment.
Not so odd jobs: Farmers stay in ag arena with extra employment
FAIRBURY — Bob Printz has a stake in more than one piece of the agriculture pie. First and foremost, the Fairbury man is a farmer. But Printz also runs a trucking company, stores and sells seed, and sells farm equipment.
“We’re one big pie,” Printz said.
Printz is among Central Illinois farmers who don’t just till the soil. Whether out of necessity or more for fun now, they have their hands in other ag-related businesses, as well.
Reno Contracting Set to Build $50 Million Marriott Hotel in Historic Gaslamp Quarter
SAN DIEGO - (Business Wire) Walt Fegley, President of Reno Contracting, one of Southern California’s premier general contractors, is proud to announce his firm’s construction of a new Marriott Residence Inn located in the heart of San Diego’s Gaslamp Quarter. The new hotel is next to the historic Brunswig Building, built in 1900, which originally housed the Brunswig Drug Company.
