Last week Caterpillar, Inc., the largest heavy machinery maker in the world, announced that its vice president, chairman, and CEO of Caterpillar Japan Ltd. will retire this year after 32 years of service.

Ali Bahaj, who has been Caterpillar’s vice president since 2002, will step down officially on May 1st. Noriyuki Takeuchi will fill his shoes as country manager and president for Caterpillar Japan Ltd.

The Chairman and CEO of Caterpillar in the United States, Douglas Oberhelman, announced this week that the company expects to have another record year in 2012. In January 2011, it had a forecast profit of 25 percent. Peoria will invest $4 billion in capital expenditures, up from $2.6 billion in 2011.

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