Canada’s Caterpillar equipment distributor for Manitoba and points east is set to sell a major Manitoba dealer of Agco’s farm equipment brands as well as the province’s exclusive dealer for Claas combines. Toromont Industries announced Monday it will sell its AgWest Ltd. arm to Dutch equipment distributor Mechan International, effective May 1. Neither company would […] Read more
Toromont to sell Manitoba Agco, Claas dealer chain
Dutch firm to buy AgWest
Engine maker Cummins says expects ‘some impact’ in Russia
Deere says will abide by sanctions
Reuters — Diesel engine maker Cummins Inc. expects “some impact” to its business in Russia and is analyzing and preparing for current and anticipated sanctions, the U.S. truck engine maker said in an e-mailed statement on Monday. Many firms have idled operations in Russia after it invaded Ukraine last week, resulting in powerful Western sanctions. […] Read more
Steel tariff shrapnel hits U.S. farmers
Kane County, Ill. | Reuters — Lucas Strom, who runs a century-old family farm in rural Illinois, canceled an order to buy a new US$71,000 grain bin last month — after the seller raised the price five per cent in a day. The reason: steel prices jumped right after U.S. President Donald Trump announced tariffs. […] Read more
Toromont to buy Cat dealer Hewitt
Reuters — Toromont Industries said Monday it would buy privately held Hewitt Group for about $1.02 billion in cash and shares to expand its network of heavy equipment dealers in Eastern Canada. Through the deal, Concord, Ont.-based Toromont will acquire Hewitt’s 45 Caterpillar dealerships in Quebec, the Maritimes, Labrador and Ontario, increasing the number of […] Read more
Caterpillar says compliant with tax laws after IRS claim
Reuters — Caterpillar Inc. said Friday it was compliant with tax laws, a week after federal law enforcement officials raided three of the company’s buildings in connection with a probe into the heavy machinery manufacturer’s offshore tax practices. The Internal Revenue Service (IRS) has challenged the company’s taxes for the years 2007-2012, the company said […] Read more
U.S. authorities raid Caterpillar’s Illinois facilities
Chicago | Reuters –– U.S. federal law enforcement officials searched three facilities of heavy machinery manufacturer Caterpillar on Thursday, prompting a sharp sell-off in the company’s stock. A spokeswoman for the U.S. Attorney Office for the Central District of Illinois, Sharon Paul, confirmed that federal law enforcement officials conducted searches at locations in Peoria, East […] Read more
Que. Caterpillar dealer to shed ag equipment arm
Caterpillar’s dealer for Quebec and the Maritime provinces is set to sell its Quebec farm equipment business to a chain of Agco dealerships. Hewitt Equipment — the authorized Cat dealer for Quebec and western Labrador and, through its Atlantic Tractors and Equipment arm, for the Maritimes — announced recently it will sell its ag division […] Read more
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