Moline, IL - Deere & Company said today it will build a factory to manufacture engines for John Deere equipment that is built in China. The factory represents an investment of approximately $60 million and will be located in the Tianjin Economic and Development Area, in which Deere already has other facilities.
"John Deere aspires to deliver great products to our customers around the world," said Samuel R. Allen, chairman and chief executive officer of Deere & Company. "This engine factory will allow John Deere to deliver increased technology for China customers while leveraging enterprise investments and engineering resources in China."
E-trucker.com
Trucking analysts Noel Perry of FTR Associates and Peter Nesvold of Jefferies & Co. will deliver their insights and projections about the trucking industry during the Commercial Vehicle Outlook Conference Aug. 24-25 in Dallas.
They will discuss equipment sales, capacity, fuel prices, employment and freight trends at the conference which unfolds on the eve of the Great American Trucking Show Aug. 25-27 at the Dallas Convention Center.
Wall Street Journal
China is the world's largest market for steel. Yet the country's flawed statistics system presents a problem for steelmakers: No one knows exactly how much steel China produces or consumes.
The country attracts close scrutiny from the global steel industry. Producers in Europe, North America and Asia boost or cut output, in part, based on Chinese demand. Prices and inventory levels, as well as the purchase of raw materials such as coal and iron ore, reflect the health of the Chinese market.
Construction Equipment Magazine
Caterpillar announced the official opening of a new remanufacturing facility in Singapore. The 20,000-square-meter (215,278 square foot) building will serve as the regional source for remanufactured major components for large off-highway trucks and other mining equipment, including engines, transmissions, final drives and torque converters.
“This new Singapore facility will expand our capability to provide unmatched customer support to the mining industry of Asia,” said Greg Folley, Caterpillar vice president with responsibility for the Remanufacturing & Components Division.
The Wall Street Journal
Ashok Leyland Ltd. Thursday posted a better-than-expected 34 percent jump in fourth-quarter net profit as record demand for trucks and buses helped outweigh a sharp rise in input costs such as those of steel and aluminum.
Net profit in January-March rose to 2.98 billion rupees ($66.2 million) from 2.23 billion rupees a year earlier. That beat the 2.28 billion rupees average of estimates in a poll of six analysts.
India Automobile News
New Delhi: India's second largest commercial vehicle maker Ashok Leyland (BOM:500477) is planning to develop new markets in African countries, as part of its expansion strategy, Managing Director Vinod Dasari told CNBC TV-18 Thursday.
"We are looking at developing new markets. In other markets we have been able to make significant breakthrough. Africa is one of the focus market for us," Dasari said.