March 20 Caterpillar Inc, the world's
largest maker of construction equipment, reported a sharp fall
in worldwide dealer sales for the three months through February.
Global equipment sales fell 13 percent in the three-month
rolling period ended February, compared with a 4 percent decline
in the period ended January, the company said in a regulatory
Asia Pacific equipment sales were down 26 percent, while
North American sales fell 12 percent.
Global sales of power systems, used on industrial job sites
and energy-producing projects, fell 7 percent.
Caterpillar reported a 55 percent drop in fourth-quarter
profit in January, citing weak demand and oversupply.
High inventory has been a challenge for the Peoria,
Illinois-based company which last year slashed production to
tackle the problem.
Shares of the company were down 1.4 percent at $87.03 on
Wednesday morning on the New York Stock Exchange.