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Capital Goods Machinery

  • May 19- Deere& Co raised its full-year sales and profit forecast for the second time, as demand improves for its farm and construction equipment, particularly in South America, sending its shares to a record high of $122.22. The company said it expected fiscal 2017 industry sales of tractors and combined harvesters in South America to be at the high-end of its...

  • *Sees FY 2017 profit of about $2 bln, up from $1.5 bln. *Q2 profit $1.94/ shr vs est $1.68. "We are seeing modestly higher overall demand for our products, with farm machinery sales in South America experiencing a strong recovery," Chief executive Samuel Allen said in a statement.

  • Deere now expects fiscal 2017 net income attributable to the company to be about $2 billion, up from $1.5 billion previously. "We are seeing modestly higher overall demand for our products, with farm machinery sales in South America experiencing a strong recovery," Chief executive Samuel Allen said in a statement. Net income attributable to Deere rose to $802.4...

  • PARIS, May 15- European sales of agricultural machinery look set to rebound in 2017 after a three-year slump as rising demand in Germany and sectors like olive growing offset weakness in France, an industry group said. France, however, "is a big question mark," Adam said. France is the biggest crop producer in the EU but suffered the worst grain harvest in three decades...

  • In March, U.S. law enforcement officials had raided three of the heavy machinery manufacturer's Illinois facilities as part of an Internal Revenue Service probe related to profits earned by the company's Swiss unit.

  • HELSINKI, May 3- Finland's mining equipment maker Metso on Wednesday appointed Nico Delvaux as chief executive from Swedish rival Atlas Copco to lead growth plans after years of restructuring and weak demand. Metso, the maker of grinding mills and crushers for miners as well as valves and pumps for the oil and gas industry, has been battling tough market...

  • CHICAGO, May 1- Monsanto Co has terminated an agreement to sell its Precision Planting LLC farm equipment business to machinery maker Deere& Co, the companies said on Monday, ending a legal fight with antitrust authorities over the deal. The U.S. Department of Justice last August filed a lawsuit to block the sale, arguing the deal could make it more expensive for...

  • Should you buy Caterpillar?

    Debating whether investors should be in Caterpillar with the stock up 20-percent since the election, with Gordon Johnson, Axiom Capital head of research, and Stanley Elliott, Stifel.

  • BUENOS AIRES, April 3- Argentine growers have been energized by the country's new tax and trade policies, setting the stage for increased grains planting and farm investment, the head of the local unit of agricultural machinery company Deere& Co said on Monday. The free-trade policies of President Mauricio Macri, elected in 2015 after an eight-year feud between...

  • March 31- Caterpillar Inc said on Friday it will shut its Aurora, Illinois, plant, costing about 800 employees their jobs as the world's largest construction and mining equipment maker shifts production to other U.S. facilities. The company said it will transition its large wheel loaders and compactors to its plant in Decatur, Illinois, and medium wheel loaders...

  • Earlier this month, U.S. law enforcement officials raided three of the heavy machinery manufacturer's Illinois facilities as part of an Internal Revenue Service probe related to profits earned by the company's Swiss parts unit, Caterpillar SARL. The IRS has demand that the company pay $2 billion in taxes and penalties for profits assigned to the Swiss unit.

  • March 16- Caterpillar Inc said it had retained former U.S. Attorney General William Barr as outside counsel and tasked him to help the company address an ongoing government investigation of its import and export practices. Earlier this month, U.S. law enforcement officials raided three of the heavy machinery manufacturer's Illinois facilities as part of an...

  • *BOJ seen keeping policy steady at two-day meeting, March 15-16. TOKYO, March 13- Japan's core machinery orders unexpectedly fell in January from the previous month and dipped the most in five months, adding to worries about whether recent signs of economic recovery will be sustainable. I am somewhat worried, but machinery orders are volatile so it's necessary to...

  • *BOJ seen keeping policy steady at two-day meeting, March 15-16. TOKYO, March 13- Japan's core machinery orders unexpectedly fell in January from the previous month and dipped the most in five months, adding to worries about whether recent signs of economic recovery will be sustainable. I am somewhat worried, but machinery orders are volatile so it's necessary to...

  • This company wants to save New Zealand's beaches by pulverizing beer bottles into sand

    A brewery in New Zealand designed a machine that crushes beer bottles into a sand substitute to save the country's beaches.

  • Dual cameras are a trend now: ASM Pacific CEO

    Lee Wai Kwong, CEO of ASM Pacific Technology, talks about the precision technology needed to produce high-tech camera equipment.

  • CHICAGO, March 2- Federal law enforcement officials searched three facilities of heavy machinery manufacturer Caterpillar Inc on Thursday, a spokeswoman for the U.S. Attorney Office for the Central District of Illinois said, prompting a sharp selloff in the company's stock. The spokeswoman, Sharon Paul, confirmed that federal law enforcement activity was...

  • CHICAGO, March 2- Federal law enforcement officials searched three facilities of heavy machinery manufacturer Caterpillar Inc on Thursday, a spokeswoman for the U.S. Attorney Office for the Central District of Illinois said, and the company's stock fell. The spokeswoman, Sharon Paul, confirmed that federal law enforcement activity was conducted at...

  • CHICAGO, March 2- Federal law enforcement officials searched facilities of heavy machinery manufacturer Caterpillar Inc in Peoria, Illinois, on Thursday, and the company's stock tumbled. Sharon Paul, spokeswoman for the U.S. Attorney Office for the Central District of Illinois, confirmed that federal law enforcement activity was conducted at three...

  • SAO PAULO, Feb 24- Chinese heavy machinery maker Xuzhou Construction Machinery Group Co Ltd is in talks with Brazilian engineering firm OAS SA to form a joint venture for construction in Africa and Latin America, a person with direct knowledge of the matter said on Friday. The venture would be the first major step in OAS's efforts to rebuild itself almost three...