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 growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.