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Industry updates you need to know

Mining Equipment giant Caterpillar has recorded a 31 percent decrease in sales and revenue for the second quarter of 2020. Its revenue was recorded as $10 billion, compared with $14.4 billion the previous year for the same period. Read Full : https://miningequipmentsales.com:2083/industry-updates-you-need-to-know/

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Industry updates you need to know

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  1. WWW.MININGEQUIPMENTSALES.COM Industry Updates You Need To Know

  2. CATERPILLAR RECORDS A 31 PERCENT DECREASE IN SALES • Mining Equipment giant Caterpillar has recorded a 31 percent decrease in sales and revenue for the second quarter of 2020. • Its revenue was recorded as $10 billion, compared with $14.4 billion the previous year for the same period. (04)

  3. The profit per share also declined by 70 percent. • The decline was due to lower sales volume driven by lower end-user demand and the impact of changes in dealer inventories, the company claims. • Dealers decreased machine and engine inventories about $1.4 billion during the second quarter of 2020, compared with an increase of about $500 million during the second quarter of 2019. • Due to this, Caterpillar withdrew its earnings guidance on March 26 and is not providing a financial outlook for 2020 at the moment.

  4. AUSTMINE ROLLS OUT VIRTUAL MINING EXPORT HUB • Austmine has launched an initiative to help regional Western Australian mining equipment, technology, and services (METS) companies increase their digital mining capabilities and global competitiveness. • The METS Digital Mining Export Hub initiative will bring together regional METS companies and connect them into those based in Perth to build export skills and identify global market opportunities.

  5. The Western Australian Government has committed $400,000 to the launch of the virtual export hub through Invest and Trade WA. • Austmine stated that the hub would addressCOVID-19’s acceleration of digitalisation in mining by giving hub members access to digital developments and strategic insights.

  6. Contact Us Website www.miningequipmentsales.com Call Us Now! 07 4843 1060 Mail Us Now! info@miningequipmentsales.com

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