They're Having A Capital Time

Savoring solid demand here, machine makers also are expanding abroad

Business investment has powered the U.S. economic expansion, and that has made machinery executives a bunch of happy campers. Shipments of industrial machinery and equipment were up 12% through October, 1995, from a year earlier, according to the U.S. Census, surging toward a likely record. Their plump backlogs almost guarantee another strong year. Says Jeffery T. Grade, chairman of Milwaukee's Harnischfeger Industries Inc., which makes equipment for papermaking and mining: "1996, when all is said and done, will be a very good year for most industrial manufacturers."

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