PIKE River Coal receivers have negotiated a $ NZ80 million ($ 63.31m) insurance payout to creditors. Under the agreement, 29 per cent shareholder New Zealand Oil & Gas to quick payment plan for my 465, the unsecured creditors. Priority Bank of New Zealand owners and the owners of leased mining equipment will be paid a total of $ NZ29.5m. Despite the fact that the rights of priority, will continue NZOG West Coast businesses and families affected by disaster November 19, which 29 lives when the mine exploded, by offering an early repayment scheme for unsecured creditors claimed to support. Read more
Peoria-based heavy machinery maker Caterpillar Inc. said it plans to expand remanufacturing facility in West Fargo, North Dakota to the growing demand for power train components for large off-highway trucks and other mining to meet.
The maker of equipment used in mining and construction said that the $ 50 million investment to create capacity for high-tech machining, metal additive processes and metallurgical lab to increase. Read more
Caterpillar Inc. is facing high expectations on Wall Street now that the company closed on a $ 8.8 billion gain and a fall in commodity prices has stopped. The Peoria, Illinois-based manufacturer of bulldozers, dump trucks and excavators reports second quarter financial results early Friday. The stock, widespread among investors, is part of the Dow Jones Industrial Average. For the second quarter, analysts predict a profit of $ 1.74 per share, on average, compared to $ 1.09 per share earned in the year-ago period. Read more
Bangalore: Top officials of BEML Limited, a Bangalore based company, and the Ministry of Defence have moved at least Rs 750 crore in bribes and commissions of the past 14 years in the purchase of components for Tatra trucks, backbone of the artillery of the army and transport wings. The Indian Army uses Tatras all-terrain vehicles mounted guided missile launchers and heavy artillery haul. It also uses these vehicles to transport personnel, supplies, tanks, ammunition, Bailey bridges, and the like. Read more
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Wuxi, China – Caterpillar Inc. (NYSE: CAT) today announced that the company’s multi-functional research and development (R & D) center in Wuxi, Jiangsu Province, was awarded Gold certification for Leadership in Energy and Environmental Design in the new category (LEED-NC).
The Wuxi R & D Center, a full Caterpillar subsidiary, is the headquarters and main branch of Caterpillar R & D Center (China) Ltd. to meet the growing operations in China and the Asia Pacific region, the new 10,000 square meter, state – of-the-art facility was built in Wuxi New District in 2009, with a strong focus on environmental impact and energy-efficient design. Read more
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