Caterpillar reports drop in marine engine sales

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Caterpillar continued to report a decline in marine engine sales, according to a dealer statistics report filed with the Securities and Exchange Commission.

Sales for the segment were down 36 percent in February, compared with February 2010, the company said. Marine engine sales were down 34 percent in January and 15 percent in December, compared with those months the previous year.

Caterpillar reported sales increases in the other segments it serves.

The company also filed a report with the SEC last week announcing a "targeted machine price action of 0 to 6 percent worldwide, based on a regional average."

"When implemented by product and by region we expect the aggregate price impact to be less than 1 percent in 2011," the company said.

The price change will be effective in July.

"This price change is a result of current industry factors, as well as general economic conditions," Caterpillar said. "Details by product will be released to dealers in the near future and will vary across geographic regions and products."

The report did not say how marine engines would be affected by this announcement.

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