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Bobcat to close plant.

Discussion in 'Heavy Equipment' started by cretebaby, Sep 2, 2009.

  1. cretebaby

    cretebaby PlowSite Veteran
    Messages: 4,162

  2. fireball

    fireball PlowSite.com Veteran
    Messages: 536

    sad day to a great company. The future doesn't look good
     
  3. JD Dave

    JD Dave PlowSite Fanatic
    Messages: 11,045

    Well that sucks. Also didn't know Bobcat was korean owned.
     
  4. xtreem3d

    xtreem3d PlowSite.com Addict
    Messages: 1,548

    i don't know if bobcat is the most popular worldwide but at least here in the states i would say it doesn't bode well for NH's , case,gehl, mustang,thomas , cat and possibly deere,
    steve
     
  5. cretebaby

    cretebaby PlowSite Veteran
    Messages: 4,162

    Why is that?
     
  6. xtreem3d

    xtreem3d PlowSite.com Addict
    Messages: 1,548

    if bobcat is the most popular here (which it probably is..i see them everywhere) and they can't keep plants open how is gehl,case ect ( which i hardly ever see here , maybe a regional thing?) going to maintain production levels...
    steve
     
  7. xtreem3d

    xtreem3d PlowSite.com Addict
    Messages: 1,548

    I'm a new holland guy...didn't know but looks like they are idling some plants

    .Date of Release: 2009-06-30



    Through the first quarter of 2009, the downturn in the Construction Equipment segment continued, with sales dropping by 59% year-over-year and most production facilities idled. However, as the drop in industry volumes exceeded Company projections, inventory levels declined less than expected and working capital absorption persisted. Agricultural Equipment volumes were also lower, which further adversely impacted profitability (although DBRS notes that negative currency effects also played a significant role in the weaker results of this segment). The total operating margin of the Equipment Operations segment (i.e., excluding Financial Services) was therefore reduced to 1.3% for the quarter (relative to 6.4% generated in the similar prior year period), with a resulting net loss of $126 million.
     
  8. noble@esitrucks

    noble@esitrucks Member
    from 20181
    Messages: 92

    ingersoll-rand sold them a while back, they never quite got the return they were looking for. Other companies definitely caught up to them. I remember when Melrose owned them and they were the best hands down. shucks they even call the type of machine after them "bobcat." It is overall a shame that they are not american owned; atleast they are still built by americans.
     
  9. Showmestaterida

    Showmestaterida Senior Member
    Messages: 407

    For now at least.