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Komatsu Slashes 2009 Projections

By: WMBD/WYZZ TV - News Staff

Updated: April 28, 2009

WMBD/WYZZ TV - Peoria - Caterpillar's biggest competitor sees big losses last year, and cuts its projections for this year.

Profits at Komatsu Corporation's construction and mining business dropped 43% in 2008, while profits in the company's industrial machinery segment fell by about 35%. As a result of decreased demand across the globe, Komatsu is also slashing it's 2009 income projections by over 50%.

The Japanese company operates a manufacturing facility in Peoria.

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