Photo courtesy Caterpillar Inc. Related Links: Caterpillar Rolls Out Hybrid Excavator as Layoffs Hit Mining Division Concluding that "the business no longer represents a strategic growth opportunity," Caterpillar Inc. says it will shut down its tunnel-boring-machine business by mid-2014.Caterpillar first entered the TBM market in 2008 with its purchase of Toronto-based TBM manufacturer Lovat. The machines have been used in tunneling jobs around the globe, from the Brightwater tunnel in Washington state to extensions of the Shanghai subway system."We continuously evaluate our strategic portfolio to ensure alignment with our long-term strategy and have concluded the tunneling business no longer fits
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.