03.10.2010

Cat to raise prices

Caterpillar has informed its dealers that it plans to implement a price increase in January as business improves.

The general price increase will be around two percent and is “a result of current industry factors as well as general economic conditions" according to a statement it filed with the U.S. Securities and Exchange Commission.

The increase will be worldwide but will vary by product region and the economic conditions each region.

In the United States and Europe prices are likely to increase by up to six percent to cover the company's costs of meeting the latest emission standards.
Caterpillar has also said that it is increasing production to keep up with new orders and it has hired back some employees.