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Cat set to hit £27bn turnover

PLANT

CATERPILLAR has said it is on course to hit its target of £27 billion turnover by 2010.

Chief executive Jim Owens said at the plant giant's annual general meeting: 'I feel incredibly good about what Caterpillar has accomplished but I feel even better about the fact that we are not stopping here. We're off to a great start in 2006.'

Mr Owens said growth would come from the recent purchase of rail equipment firm Progress Rail and the increase in capacity for large engines to support demand for power and fuel applications.

The US-based AGM was marked by a demonstration against Caterpillar's sales of equipment to the Israeli army, which has been used to destroy Palestinian property. The protest was led by Cindy Corrie, whose daughter was crushed by an Israeli Army-owned Cat bulldozer in 2003.