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Caterpillar Reports Strong Equipment Sales in February

Wed March 23, 2011 - National Edition

PEORIA, Illinois (AP) Caterpillar said February was another strong month for sales of its mining and construction equipment, and global sales grew 59 percent over last year.

The company reported sales figures March 18 in documents filed with the Securities and Exchange Commission.

Caterpillar said equipment sales were strongest in Latin America, which reported a 76 percent jump over the previous year. But even in the weakest region of Europe, Africa and the Middle East, sales grew 53 percent in February.

Caterpillar’s sales figures are watched closely because its results are considered an indicator of the health of the economy.

Engine sales also improved for Caterpillar but not as much as machinery sales. Caterpillar said total engine sales grew 31 percent.