Caterpillar Inc.: The Peoria, Ill., heavy equipment...
From Times Wire Services
Caterpillar Inc.: The Peoria, Ill., heavy equipment maker reported that it lost $17 million in the second quarter, contrasted with a profit of $46 million in the quarter a year ago. Sales fell 9% to $2.69 billion. Caterpillar said a $22-million charge to cover job-reduction costs and to write off surplus assets led to the red ink. Sales were down because of the recession and economic problems in Brazil, where it has two plants, the company said.
