News in the Construction Equipment Industry
Need a quick update on what happened last week in the construction industry? Every Monday we will provide a brief overview of some of the top stories for your consumption.
Deere & Company had a record high net income of $687.6 million as the fourth quarter came to an end on October 31; compared to $669.6 million for Q4 2011. For the fiscal year 2012, the company announced capacity expansions for tractors, cylinders and sprayers domestically. The net income for the entire year totaled $3.065 billion, compared to $2.80 billion in 2011.
Terex introduced the 3800 Superlift, successor to the CC 2800-1 Superlift, now equipped with a 650 tonlift capacity. This lattice boom crawler crane has improved performance capacity by around 20% overall and President Kevin Bradley is calling the crane ‘the new class leader.’
Ritchie Bros. Auctioneers will hold their first auction in China in spring of 2013. They are the first foreign auction company to achieve the status of a Wholly Owned Foreign Enterprise from the Chinese government. Although they are new to the Chinese heavy equipment market, Ritchie Bros. stated, “Unreserved industrial auctions have been a quick and easy method for equipment buyers and sellers to conduct business on a global scale.”