Caterpillar Says Sales Grew 49% In January

PEORIA, Ill. (AP) — Caterpillar says worldwide demand for its heavy construction and mining equipment continues to be strong, with sales growing 49 percent in January.

The Peoria, Ill., company said in a filing Friday that machinery sales were strongest in North America, where sales grew 58 percent from a year earlier, and Latin America, where sales surged 56 percent.

Engine sales also improved for Caterpillar but not as much as machinery sales. Caterpillar says total engine sales grew 23 percent.

Last month, the maker of yellow-and-black mining and construction equipment said its fourth-quarter net income more than quadrupled to $968 million as its sales surged 62 percent to $12.8 billion.