Caterpillar reports heavy equipment sales drop

By WEEK Reporter

Caterpillar reports heavy equipment sales drop

March 21, 2013 Updated Mar 21, 2013 at 12:00 PM CDT

PEORIA, Ill. --  Officials with Caterpillar Incorporated said Thursday that global sales of its heavy equipment fell 13 percent for the three-month rolling period that ended in February.
    
Company officials say those sales were hurt by a steep drop in Asia Pacific demand.
    
The downturn in dealer sales followed a four percent decrease for the three months that ended in January, and a one percent slide for the three months that ended in December.
    
Caterpillar warned in January that its 2013 profit could shrink if the global economy does not pick up in the second half of the year.
 

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