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"PEORIA — Caterpillar Inc. on Thursday announced the creation of a new division and an imminent withdrawal from certain sectors of the mining equipment marketplace, with both moves resulting in 'significant' reductions in the company's work force. The largest manufacturer of earth-moving equipment last month announced additional restructuring costs and predicted more job cuts when releasing second quarter results that continued a long-term decline in sales. The company has suffered heavy", www.pjstar.com
"Caterpillar announced today it intends to pursue strategic alternatives, including a possible divestiture, for its room and pillar products, which serve a segment of underground soft rock mining customers. The company will also discontinue production of track drills within its Resource Industries portfolio.", www.constructionequipment.com
"In dealing with the longest down-cycle in its 90-year history, US mining equipment manufacturer Caterpillar has announced that it is pursuing strategic alternatives for its room and pillar products and discontinue the manufacturing of track drills. The Peoria, Illinois-based company said Thursday it would forthwith focus on those products with the greatest growth potential.", www.miningweekly.com
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