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HTCMY - Komatsu Still Offers Heavy Machinery Recovery Upside But It Could Take Some Time
Hitachi Construction Machinery Co Ltd ADR
This has been a challenging downturn so far for suppliers of construction and mining equipment. Unlike most recessions, in which customers continue to operate at lower levels, this downturn saw a dramatic curtailment of activity. While parts and service demand has held up better for Komatsu (KMTUY) than new equipment, it has still been a sharp deterioration, and the outlook for the recovery is cloudy at best, particularly with weak trends in North America and Europe and an ongoing shift away from coal as a fuel source for electricity.