Doug Fabick, dealer principal of John Fabick Tractor Company (Fabick Cat), Fenton, St. Louis County, Mo., and Jeré Fabick, dealer prinicipal of FABCO Equipment Inc., of Milwaukee, Wisc., successfully finalized combining their two family-owned, independently-operated companies on July 1, 2015. Bringing the two Cat dealerships together continues a shared heritage that dates back to 1917 when John Fabick Sr. founded the first Fabick Company in St. Louis. The expanded organization is being led by Doug Fabick as CEO and dealer principal along with Jeré Fabick serving as president and co-dealer principal. Headquartered in St. Louis, the combined enterprise operates in a more »
July 7, 2015 –On June 30, the Export-Import (Ex-Im) Bank’s charter expired, preventing the entity from guaranteeing any new loans for the foreseeable future.
The Ex-Im Bank is an independent, self-sustaining federal agency providing financing tools to international buyers of U.S. exports, particularly when commercial lenders are unwilling to accept risks inherent in the deal. It supported $27.5 billion worth of U.S. exports in fiscal year 2014 with $10.7 billion representing products from small businesses, including the equipment distribution sector.
Despite congressional inaction, the Ex-Im Bank won’t close its doors completely. It will remain open to collect payments, but won’t process new applications more »
July 7, 2015 – John Deere’s GoPush mobile application is available for download as of July 1, for 1050K crawler dozer customers. The GoPush app brings convenience to the jobsite, with features to enhance productivity and efficiency.
“The features of the GoPush app were designed with our 1050K customers in mind,” said Mark Oliver, crawler dozers product marketing manager, John Deere Construction & Forestry. “The goal of the app is to provide operators and fleet managers a wealth of knowledge to make them more productive on the jobsite – all at the push of a button.”
The GoPush app includes daily service information, recommendations based more »
July 7, 2015 – Atlas Copco Tools and Assembly Systems officially opened their new custom-built 120,000 square-foot, state-of-the-art headquarters in Oakland Technology Park, located 30 miles north of Detroit in Auburn Hills, Mich., on June 29. The new facility will house approximately 225 employees from the former location on Dutton Road along with additional business units. The headquarters serves the motor vehicle, heavy industrial and general manufacturing industries, as well as the company’s growing aerospace business, and expects to add approximately 50 jobs over the course of 12 months.
“Our expansion into a new, larger facility supports the strong growth and increased more »
July 7, 2015 – Cummins Inc. announced June 30, that Dr.John Wall, vice president – chief technical officer, will be retiring after nearly 30 years with the company. Wall has been at the center of many pivotal moments and initiatives in Cummins’ history over the past quarter century.
Jennifer Rumsey, vice president of Engineering for Cummins’ Engine Business, will take Wall’s place. She is the first woman to serve as the company’s top technical leader.
“We are, of course, happy for John and excited about what the future might hold for someone with his energy and passion,” said more »
PMI at 53.5 Percent
July 7, 2015 – Economic activity in the manufacturing sector expanded in June for the 30th consecutive month, and the overall economy grew for the 73rd consecutive month, said the nation’s supply executives in the latest Manufacturing ISM Report On Business.
The report was issued July 1, by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee. “The June PMI registered 53.5 percent, an increase of 0.7 percentage point over the May reading of 52.8 percent. The New Orders Index registered 56 percent, an increase of 0.2 percentage point from the reading more »
According to a new study by Reportlinker, global demand for construction machinery is forecast to advance 3.9 percent per year through 2019 to $218 billion, decelerating from the 2009-2014 period. Regions with an abundance of developing countries, such as the Asia/Pacific region, Central and South America, and the Africa/Mideast region are all expected to register above average gains going for-ward on construction spending, especially as infrastructure projects continue to increase. For instance, more than two-thirds of all additional construction equipment demand generated between 2014 and 2019 will be attributable to China. In contrast, more industrialized areas like North America and Western more »
July 7, 2015 – President Obama received authority from the U.S. Congress June 24, to finish the Trans-Pacific Partnership (TPP) negotiations. Canada must seize the opportunity to work with TPP partners to conclude the deal, said the Canadian Council of Chief Executives in a recent statement.
Canada must not be left behind. Representing businesses of all sizes and sectors across the country, the group calls on all federal parties to support the comprehensive trade agreement, which would give Canadian businesses improved access to rapidly growing markets, update existing trade relationships and open trade with new partners.
“The Asia Pacific region is becoming a key more »
TPA Sends Message to World that America is Serious About Reducing Trade Barriers
July 7, 2015 – Trade Promotion Authority (TPA), a critical tool long absent from United States trade negotiations, cleared its final hurdle June 24, before being sent to President Obama. Passing the Senate with bipartisan support, TPA is a linchpin that will provide U.S. trade negotiators with the strongest possible negotiating position as the U.S. seeks to expand trade with Europe, the Asia-Pacific Rim and developing countries. While Caterpillar played a leadership role in support of TPA, a key difference-maker was the engagement of Caterpillar employees.
“Congressional passage of TPA marks more »
Seattle-Bellevue-Everett, Wash. and Wenatchee, Wash. Top Growth List; New Orleans-Metairie, La. and Gulfport-Biloxi-Pascagoula, Miss. Experience the Largest Numerical and Percentage Declines for the Year
July 7, 2015 – Construction employment expanded in 205 metro areas, declined in 101 and was stagnant in 52 between May 2014 and May 2015, according to a new analysis of federal employment data released June 30, by the Associated General Contractors of America. Association officials noted even though the majority of metro areas are still adding construction jobs, the number of gainers has decreased to the lowest level since April 2013.
“Although contractors are continuing to add workers in many more »