New Holt Cat president and chief operating officer David Harris said the company is well prepared to weather the storm when it comes to declining oil prices. In an interview with the San Antonio Business Journal, Harris said Holt Cat, the exclusive dealer for Caterpillar construction equipment rental and sales in 118 Texas counties, is diversified enough to do well even though growth from the Eagle Ford Shale region has been a major factor in the company’s growth the past couple of years.
Harris pointed out that lower oil prices have been beneficial for residential and commercial construction. He said the cores and asphalt industry had a record year in 2014 and would continue to do strong business in 2015. Holt Cat, which spent $100 million to build and refurbish facilities over the past couple of years, will continue in a growth mode.
Holt Cat had more than $1.6 billion in total revenue in 2014, almost $150 million in rental.
Harris was promoted to president and COO after previous COO Allyn Archer retired at the end of 2014. He previously served as executive vice president and general manager.
Holt Cat, based in San Antonio, is No. 19 on the RER 100.
To read the full story, go to: http://www.bizjournals.com/sanantonio/blog/eagle-ford-shale-insight/2015/02/holt-cats-new-president-speaks-on-oil-prices-2015.html?page=all
