Caterpillar to Build Polish Plant for Heavy Machinery
Caterpillar Inc plans a new heavy machine parts plant in Sosnowiec Poland to meet demand in western Europe. Iron sub assemblies and machine frames will be fabricated there as land and buildings are purchased and refurbished. Production is slated to begin by year end and about 40 workers are to be hired initially.
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Big-ticket factory orders drop in June
Washington AP reports U S durable goods orders fell 3.8 percent in June from May, the steepest drop in seven months, signaling waning consumer spending and potential factory slowdown. Shipments declined 1.4 percent, adding to concerns about the stock market lull weighing on the economy.
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