NEW YORK, NY — (Marketwire) — 10/15/12 — The continued macroeconomic instability seems to be stifling demand for companies in the diversified machinery industry, such as Dover Corp. and Cummins Inc. Weakness in European, U.S. and Chinese economies has been prompting customers to adopt a wait-and-see attitude to spending and postpone significant purchases. Get your free reports on and at . There is no commitment to join.
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Cummins recently announced that it will be taking action to offset declining demand, including cutting between 1000 and 1500 jobs. On top of job cuts, Cummins has stated its intention to implement planned work-week reductions and shutdowns at some manufacturing plants. As a result of the weak demand, the company lowered its 2012 sales forecast by $1 billion, to $17 billion for the full-year. The North America heavy duty truck and the international power generation segments are expected to see the most significant changes. report is accessible for free by registering today at
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With earnings results upcoming, it will be interesting to see how industry players have been coping with the challenging environment. Dover is due to report its third quarter financial results on October 17th before the market opens. report is accessible for free by registering today at
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