Heavy Machinery & Vehicles

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Caterpillar Inc To Close Another Mining Equipment Plant And Lay Off 240 Additional Workers-Reuters

Friday, 15 Nov 2013 05:56pm EST

Reuters reported that Caterpillar Inc said that it will close another plant and lay off 240 additional workers as it continues to respond to a sharp drop in demand for its earth-moving products from customers in the mining industry. The planned shutdown of the Pulaski, Va. facility, which makes coal haulers and other equipment, is expected to be completed by mid-2014. It is the latest in a series of such closures announced by the Peoria, Ill-based heavy equipment maker.

GO Iron Works Co Ltd to Withdraw from Golf Practice Ground Business

Thursday, 7 Nov 2013 01:40am EST

GO Iron Works Co Ltd announced that it will withdraw from the golf practice ground business, effective February 15, 2014.

Kamaz OAO to Stop Production for Five Days in November-Interfax

Thursday, 31 Oct 2013 08:50am EDT

Interfax reported that management of Kamaz OAO (Kamaz) have signed an order to stop production at the Company on November 5, 15, 22, 28 and 29, the Company told Interfax. Vehicle and associated production will be stopped. The stoppage will not affect employees in the primary foundry, sales and shipping services, parts production, bus production, product diversification, repair services or building maintenance. The stoppage will partly affect company lawyers, accountants and personnel services. A spokesman for the Company said production was being stopped as an anti-crisis measure to rationalize production and avoid overstocking. Earlier Kamaz noted the situation on the truck market was negative. The heavy trucks market fell 30% in January-September and Kamaz sales fell 10%. Kamaz CEO Mr. Sergei Kogogin said the Company plans to correct its business plan as it expects to sell 43,000 vehicles in 2013 and not 45,000 as previously predicted.

China CNR Corp Ltd Announces Reorganization Plan

Tuesday, 29 Oct 2013 08:00pm EDT

China CNR Corp Ltd announced that it will use its book balance of long-term equity investment and monetary capital in Qiqihar Railway Rolling Stock Co., Ltd. worth RMB 3,118 million, to invest in a Qiqihar-based railway vehicle subsidiary. As a result, Qiqihar Railway Rolling Stock will become a wholly owned subsidiary of the Qiqihar-based railway vehicle subsidiary.

Cargotec Oyj Announces Operation Restructuring within Hiab Potentially Resulting in Reduction of Approximately 250 Employees Globally

Thursday, 24 Oct 2013 06:00am EDT

Cargotec Oyj announced that the Company is planning to restructure operations in Hiab business area in order to improve profitability, to speed up the strategy implementation and to ensure long-term competitiveness in the global markets. According to initial estimates, the planned measures could result in the reduction of approximately 250 employees globally, of which 45 in the Netherlands, 35 in Sweden, 12 in Finland, and 158 in other countries. The planned measures are estimated to incur savings of approximately EUR 20 million and to result in estimated EUR 12 million in restructuring costs. Cargotec employs approximately 10,000 people globally, of which 3,000 people in Hiab.

Volvo AB to Implement Changes within Truck Manufacturing in Europe Including Staff Cutbacks

Wednesday, 16 Oct 2013 08:14am EDT

Volvo AB announced that the Company has made a directional decision to implement changes in the European industrial structure for truck manufacturing. The aim is to enhance the efficiency of manufacturing and thus strengthen competitiveness. The intention is to, step-wise over the next two years, relocate cab trim operations from Umea to Gothenburg, to concentrate the assembly of heavy duty trucks in Gothenburg to one line, and to concentrate the assembly of medium duty trucks to Blainville. The plant in Umea will be further specialized in its main core business - sheet-metal pressing, welding and painting of cabs. The directional decision is expected to result in staff cutbacks and operational changes, and will be subject to trade union consultations.

Autech Corporation to Merge with Subsidiary

Monday, 7 Oct 2013 04:17am EDT

Autech Corporation announced that it has decided to merge with a wholly owned subsidiary, ATGLOBAL, which is engaged in the wholesale and retail business, to improve operating efficency and increase shareholder's value. The merger effective date is December 26, 2013. After the merger, the Company will survive and the subsidiary will be dissolved.

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