Equipment World Digital Magazine
Issue link: http://read.dmtmag.com/i/917937
December 2017 | EquipmentWorld.com 12 A lmost two years after Caterpillar symbolically named Rimco its dealer in Cuba, Cat's Puerto Rican dealer has been given the OK to set up a warehouse and distribution center in the country, the Miami Herald reports. According to the newspaper, the Rimco deal could be "one of the last signed before the Trump adminis- tration tightens up on business dealings with Cuba." It's anticipated that U.S. companies that have signed deals before the new rules are enacted will be grand- fathered in. Caterpillar offi cials told the newspaper that current embargo law would not permit the manufac- ture of Caterpillar equipment in Cuba. During a news conference at the Havana Interna- tional Fair, Ana Teresa Igarza, managing director of Cuba's Mariel Special Economic Development Zone, said Rimco hoped to open operations in the zone next year, the newspaper reported. Equipment World reported in February 2016 when Cat named Rimco its dealer in Cuba that Caterpillar has been a vocal supporter of ending the trade em- bargo on Cuba, especially after then-President Obama reestablished ties between the United States and Cuba in 2014. reporter | staff report Cat dealer given OK to establish distribution center in Cuba Briefs Liebherr will add 2,240 employees by the end of this year due to a "very signifi cant jump in orders" in 2017, says Stefan Heissler, member of the board of directors of Liebherr-International AG. In the fi rst half of 2017, Liebherr saw a 6.4 percent year-on-year increase in total sales, and Heissler expects it to be "a record year." For the third quarter of 2017, ASV Holdings is posting an 88.7 percent increase in new machine sales through its growing distribution network. Machine sales rev- enues jumped 60 percent to $19.8 million. Terex reports that income from continuing operations soared 70 percent in the third quarter of 2017 to $56.6 million – up from $33.3 million for the same period a year ago. Driven by strength in rental and distribution businesses, H&E Equipment Services posted third-quarter rev- enue up 5.9 percent to $259.2 million – an increase of $14.5 million over the same period last year. Caterpillar reported third-quarter sales and revenues rose 25 percent year-to-year. The company posted sales and revenues of $11.4 billion for third-quarter 2017, up nearly $2.3 billion for the same period last year. United Rentals saw a 16.8 percent surge in total revenue for the third quarter, climbing to $1.766 billion compared to $1.508 billion for the same period last year. The company says rental revenue is up by 16.2 percent. For more on each of these stories go to equipmentworld.com.