Caterpillar Inc. is ramping up for several new capital construction projects following a record-setting second quarter of earnings. Photo: Courtesy Caterpillar Inc. Caterpillar’s Model 336 excavator is one of the machines that will be produced at a new plant in Victoria, Texas. Fueled by industrial market strength in mining, energy and infrastructure, the Peoria, Ill.-based company, the world’s largest construction and mining equipment maker, saw second-quarter profits increase 91% to $707 million, up from $371 million a year ago. Cat previously trimmed staff last year, cutting 20,000 jobs, or about 18% of its workforce. “We have streamlined our organization from
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.