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Caterpillar sees surge in orders overseas

Caterpillar Inc., the world’s largest maker of construction and mining equipment, said Monday that it was ramping up production as the global economic recovery spurred demand for its heavy equipment, especially in commodity-rich developing countries.

“We’re in a revival. There’s no doubt about it,” Chief Financial Officer Dave Burritt said. “We’re heading up, and it’s driven by the emerging markets. No doubt.”

The Peoria, Ill., company offered an upbeat outlook for its business and the world economy after reporting first-quarter earnings of $233 million on Monday, reversing last year’s loss in a quarter weighed down by layoff costs.

[St. Louis Post Dispatch]