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Caterpillar’s Latin Sales Grow

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Caterpillar boosts sales in Latin America, in large part thanks to the commodity boom. And prospects are bright for continued strong growth.

BY CHRONICLE STAFF

U.S.-based Caterpillar, the worlds largest maker of bulldozers and excavators, boosted Latin American revenues by 18 percent last year to $4.5 billion. Machinery sales grew by 24 percent to $3.1 billion, while sales of engines expanded by 3 percent to $1.1 billion. Revenues from financial products in Latin America reached $270 million, an increase of 38 percent from 2006.

"2007 was a great year for results in Latin America," says Thomas Gales, Caterpillar’s vice president for the Latin America division. "Caterpillars broad global footprint has enabled us to benefit from strong economic growth outside the United States, as global markets for mining, energy and infrastructure development are booming. Latin America was a great part of that success."

BETTER THAN GLOBAL SALES

Caterpillar’s Latin America sales grew higher than its worldwide sales of 8.0...

Keywords: Brazil, Chile, Colombia, Mexico, Panama, Peru, Venezuela

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