Caterpillar Inc.: Profit for the heavy equipment...
From Times Staff and Wire Service Reports
Caterpillar Inc.: Profit for the heavy equipment maker was $497 million for 1989, down 20% from 1988. Revenue rose 7% to $11.13 billion. The Peoria, Ill.-based company will lay off 1,200 workers in Illinois and Pennsylvania because of a 34% decline in fourth-quarter profit. It blamed higher costs and smaller profits among its affiliates for the drop in earnings.
Tables, D8
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