Tag Archive for 'Mining'

Caterpillar closing three Illinois production facilities

il-peoria_logoCaterpillar Inc. plans to shutter three component production facilities in Illinois, affecting about 170 jobs in Sterling and Dixon, movingAR-140609362-1.jpg&MaxH=225&MaxW=225 the work to a similar facility in Michigan.

The sites, all Anchor Coupling facilities — a wholly owned subsidiary of Caterpillar — make or distribute hydraulic hose assemblies for both Caterpillar and other equipment manufacturers. The work will be moved to an existing site in Menominee, Mich., in an attempt to cut costs and boost efficiency, the company said in a Friday afternoon news release.

“You’ve got three facilities spread out across two (locations) in Illinois that are doing essentially, primarily the same work as one facility is doing in Menominee,” company spokeswoman Rachel Potts said by phone Friday.

Combining them in the site about an hour northeast of Green Bay, Wis., will allow the company to eliminate some “redundancies in management structures” and internal logistics costs that come from having the work spread out over four locations, she said.

Production at the Illinois plants — one in Dixon and two in Sterling — will be slowed during the fourth quarter this year, and complete the consolidation in the first quarter of 2015, the company said in a news release.

Existing employees will have opportunities for relocation to the combined site, Potts said, though she could not cite the exact number of positions that would be available on the Upper Peninsula for Illinois-based workers to be considered.

The company eyed “a variety of locations across North America” before settling on the existing Michigan location, which will expand operations into a building across the street that Caterpillar currently leases, Potts said.

“In the end, the financial analysis just showed the team that the location in Menominee is a better location for efficiency reasons,” she said.

The analysis not only looked at overall business climate, but also at other costs. She said the Illinois sites also were reviewed, but would not detail what other locations in the United States or Mexico also were considered.

“We recognize that this decision will be difficult for our employees,” said Greg Folley, vice president with responsibility for Caterpillar’s Remanufacturing, Components and Work Tools Division, in a prepared statement. “We value and appreciate the work that our Sterling and Dixon employees have contributed and their dedication to producing and distributing quality products. This decision is not about the performance of these plants, but rather about improving efficiency across the component manufacturing footprint and reducing the cost structure driven by three independent facilities, while providing the highest quality products to our customers.”

This is the latest in a series of plant closures or consolidations for the company, which shed 10 percent of its total work force — about 13,000 employees — last year according to the International Business Times.

The shifts include the closure of a Pulaski, Va., coal hauler plant and the planned shutdown of a marine engine plant in South Carolina that was announced in April. Jobs at that latter facility are expected to be moved to other facilities in Georgia and Texas.

Chris Kaergard can be reached at 686-3135 or ckaergard@pjstar.com. Follow him on Twitter @ChrisKaergard.

http://www.pjstar.com/article/20140606/NEWS/140609362/10929/NEWS

Terex Completes Sale of Truck Business to Volvo for $160 Million

TerexTerex Completes Sale of Truck Business to Volvo for $160 Million

Terex Corporation (NYSE:TEX) today announced that it has completed the sale of its truck business to Volvo Construction Equipment for a purchase price of $160 million. The truck business manufactures and sells off-highway rigid and articulated haul trucks. Included in the transaction is the manufacturing facility in Motherwell, Scotland.

 

Source: Terex Corporation www.terex.com

Terex Agrees to Sell Truck Business to Volvo for $160 Million

logo_terexTerex Corporation announced on 12-09-2013, that it has agreed to sell its truck business to Volvo Construction Equipment for cash proceeds of approximately $160 Volvomillion. The truck business manufactures and sells off-highway rigid and articulated haul trucks. Included in the transaction is the manufacturing facility in Motherwell, Scotland. The sale, which is subject to government regulatory approvals and other customary closing conditions, is targeted to close in the first half of 2014.

“The truck business has been an important part of our Company for more than three decades and continues to produce world class products with dedicated and talented employees,” said Ron DeFeo, Terex Chairman and Chief Executive Officer. “However, trucks no longer fit within our changing portfolio of lifting and material handling businesses. I am confident that the truck business will benefit by joining a company sharing similar competencies and offering complementary products and services. We are pleased to have entered into this agreement with Volvo, which represents a strong strategic buyer for the business who values our distribution network and team members.”

Mr. DeFeo continued, “The sale of the Truck business reflects our strategy to manage our portfolio of businesses and focus on those businesses that provide the greatest returns for our shareholders. We recently announced the initiation of quarterly cash dividends to our shareholders and a share repurchase program and the proceeds from this sale aid our efforts to improve our financial efficiency and implement these programs.”

Commenting on the rationale of the deal Volvo CE’s president, Pat Olney said: “This is a strategic acquisition that offers Volvo CE considerable scope for growth. The addition of a well-respected range of rigid haulers extends the earthmoving options for customers involved in light mining applications at a time of renewed confidence in the sector. The addition of TEL’s articulated hauler range will enhance our position in this segment, particularly in high-growth markets. We believe that the Motherwell facility and its global team members, as well as the current distribution partners, are valuable to the success of the business in the future.”

HOLT CAT® Purchases Part Of Expanded Cat Mining Distribution Business From Caterpillar®

C3110C6B-8B25-4EAC-9F5D-C75D81DF6770HOLT CAT®, the Caterpillar® dealer for South, Central, North and East Texas, today announced the acquisition of the expanded Cat mining equipment distribution and support business for its respective territory.  As a result of the acquisition, HOLT CAT has created a new Mining Solutions Division – HOLT CAT’s Mining Solutions Group—led by General Manager Scott Perlet, through which the company will continue to provide outstanding customer service throughout its territory.

“HOLT has been a highly respected supplier to the Texas mining industry for a long time, and our newly expanded mining product line is a positive move forward. This acquisition will enhance our diversity and position in the market while allowing our company to expand its core Caterpillar business,” J.K. Baxter, HOLT CAT Senior Vice President and General Manager, Machine Division.

The acquisition is part of an $80 million commitment HOLT CAT is making in facility upgrades, new buildings, and business expansion across the state of Texas.

Forty-seven employees will move from Caterpillar and join HOLT’s 2,000-plus workforce. This acquisition allows the company to broaden its scope in mining by providing a comprehensive and superior product line, while continuing to provide legendary service that customers have come to expect from HOLT CAT.

“Caterpillar dealers know more about helping customers get the most from Cat products than anyone else, and there are none who share a more storied history with Caterpillar than the Holt family,” said Steve Wunning, Caterpillar group president with responsibility for the Resource Industries group. “The creation of HOLT CAT’S Mining Solutions group is building on the rich history, expertise, resources and commitment to support the products and deliver the services for all of our mining customers in HOLT’s territory.”

HOLT CAT joins other Cat dealers around the world who are selling, servicing and providing world-class support for the expanded Cat mining product line, which includes Draglines, Unit Rig mining trucks, Room & Pillar and Longwall equipment, Electric Rope and Hydraulic Shovels, Highwall Miners, Drills, Belt Systems and various lines of other equipment.

Caterpillar has announced similar transactions with other dealers over the last several months. Caterpillar continues to hold discussions with other Cat dealers that have mining activity in their territories and will continue to operate the former Bucyrus distribution business until the transitions have occurred in a given territory.

Trimble Acquires Actronic Technologies to Extend its Machine Monitoring and Reporting Solutions for the Connected Site

TrimbleActronic Technologies is a Leading Provider of Weighing Solutions for Construction, Aggregates, Mining and Waste Industries

Trimble (NASDAQ: TRMB) announced today that it has acquired privately-held Actronic Holdings Limited of Auckland, New Zealand. Actronic Technologies is a leading provider of weighing technology and payload information systems for construction, aggregates, mining and waste markets. Financial terms were not disclosed.

Actronic Technologies produces the LOADRITE® weighing system for wheel loaders, excavators, conveyors and waste collection vehicles. LOADRITE systems provide equipment operators, site foremen and project managers with accurate payload weights and allow them to ensure that machines are loaded to optimal capacity and that loads are accurately recorded. Weight information combined with fleet dynamics and cycle time tracking provides metrics for monitoring and improving both machine and project performance.

LOADRITE extends Trimble’s Connected Site® portfolio by adding weight as an element of information collected at the machine. This extended capability will better enable contractors to use the Trimble Connected Site to achieve improved comprehensive real-time intelligence on asset and site productivity for the contractors mixed fleet. Trimble’s Connected Site is an extensive information architecture that optimizes and integrates operations across the construction site and the office, thereby enabling improved planning, more advanced monitoring, and significantly greater productivity.

“The acquisition of Actronic Technologies empowers machine operators, foremen, supervisors and project managers to understand machine performance and progress across the entire site within the aggregate, construction, mining and waste industries,” said Roz Buick, vice president and general manager of Trimble’s Heavy Civil Construction Division. “LOADRITE weighing systems expand the richness of the Connected Site information we collect from machines and complements the productivity and reporting capabilities we already provide our customers.”

“The LOADRITE system is widely recognized as setting the standard for our industry, a result of over thirty years industry expertise gained by working closely with machine owners and operators,” said Gottfried Pausch, general manager for Actronic Technologies. “I believe the addition of the LOADRITE system to Trimble’s leading portfolio of positioning and automation technology solutions extend our collective ability to deliver more powerful and robust solutions designed to improve operational efficiency and reporting and allow our customers to maximize their profits.”

About Actronic Technologies

Since 1979, Actronic Technologies has been designing, developing and manufacturing applied technology solutions to improve productivity in the aggregates, mining, waste management, forestry, and other industries. Actronic Technologies is a leader in the field of measurement. LOADRITE load weighing technology and payload information systems are installed on wheel loaders, excavators, garbage trucks and other heavy loading equipment to ensure optimal loads, and provide quality data for productivity analysis.

For more information, visit Actronic at: www.loadritescales.com.