Caterpillar Asia Sales Drop Accelerates Amid Mining Cuts
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Caterpillar Inc., the biggest maker of construction and mining equipment, reported a steepening decline in retail machine sales in Asia as miners continue to reduce spending.
Dealer sales in the Asia-Pacific region fell 30 percent in the three months through May compared with the same period a year earlier, the Peoria, Illinois-based company said today in a filing. Sales slid 25 percent in the three months through April.