Caterpillar Inc., the world's largest construction and mining equipment maker, is shifting its economic engine into overdrive with several new capital projects following a record-setting second quarter. Photo: Caterpillar Inc. Cat's Model 336 excavator is one of the machines to be produced at a new plant in Victoria, Texas. Fueled by industrial market strength in mining, energy and infrastructure, the Peoria, Ill.-based company saw second-quarter profits increase 91% to $707 million, up from $371 million a year ago. Caterpillar has since upped its annual outlook based on higher expected machinery sales and revenue, which could top $40.5 billion. Other construction
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.