PEORIA, Ill. — Caterpillar recently acquired 25 percent of Cramo, a Swedish rental firm, according to wire service reports. Caterpillar acquired the shares from Geveke of the Netherlands, which still owns 24.9 percent of Cramo.
Two Caterpillar officials will be represented on the Cramo board of directors.
In other Caterpillar news, CEO Glen Barton reported that although its power generation unit may not grow as fast as it had expected this year, the company still expects to meet its previous earnings forecast.
“Our outlook for power generation is that it will continue to be strong but it may not reach the 20 percent growth year-over-year that we had anticipated,” Barton told a group of financial analysts.
