Tag: Caterpillar

Caterpillar bets on self-driving machines impervious to pandemics

CHICAGO (Reuters) – Question: How can a company like Caterpillar CAT.N try to counter a slump in sales of bulldozers and trucks during a pandemic that has made every human a potential disease vector?

Jason Ramshaw, Commercial Manager for Caterpillar Construction Digital & Technology, demonstrates the Cat Command remote control console to operate a 320 excavator at Caterpillar’s Construction Industries EAME Sales Rally in Malaga, Spain, in an undated handout photograph. Caterpillar/Handout via REUTERS

Answer: Cut out human operators, perhaps?

Caterpillar’s autonomous driving technology, which can be bolted on to existing machines, is helping the U.S. heavy equipment maker mitigate the heavy impact of the coronavirus crisis on sales of its traditional workhorses.

With both small and large customers looking to protect their operations from future disruptions, demand has surged for machines that don’t require human operators on board.

Sales of Caterpillar’s autonomous technology for mining operations have been growing

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Weir Group to sell oil & gas division to Caterpillar for $405 million

Adds details on the deal

Oct 5 (Reuters)Weir Group Plc WEIR.L said on Monday it had agreed to sell its oil and gas division to U.S. heavy equipment maker Caterpillar Inc CAT.N for $405 million in cash, as the engineering company focuses on its mining business.

The deal, which follows a collapse in global oil prices and a swathe of sectoral bankruptcies, will have a $70 million U.S. cash tax benefit for Weir, and the net proceeds from the deal will reduce the group’s leverage, the company said.

The transaction includes Weir’s North American and international oil and gas operations, comprising its Pressure Pumping and Pressure Control business units, and associated after-market spares among other things.

Weir Group Chief Executive Officer Jon Stanton called the move a major milestone in transforming the group into a focused, premium mining technology business.

The company said the deal, which

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Caterpillar Announces Appointment of New Vice President

DEERFIELD, Ill., Sept. 16, 2020 /PRNewswire/ — Caterpillar Inc. (NYSE: CAT) announced today its board of directors has appointed Marc Cameron a company vice president. Cameron will have responsibility for Caterpillar’s Resource Industries Sales, Services and Technology Division. 

Cameron has 20 years of deep expertise in surface and underground mining, with early career experience in the construction industry. He has led complex global teams and has extensive knowledge of mining operations, having served in various roles as a leader on the Rio Tinto team, one of Caterpillar’s largest mining customers.  He will begin his duties with Caterpillar on November 2, 2020, and will be based in Tucson, Arizona.

“Marc’s deep mining experience will further enhance our customer focus and accelerate the growth of Caterpillar services, including technology solutions,” said Denise Johnson, Caterpillar group president of Resource Industries.  

Cameron joined Rio Tinto in 2003 and has led

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