Caterpillar to Raise Equipment Prices in 2010

Peoria, Ill.-based Caterpillar last week said it will raise prices worldwide by up to 2 percent on its machinery beginning in January 2010.

In a filing with the Securities and Exchange Commission, the company cited “current industry factors and current and expected general economic conditions” as the reason for the planned price hikes.

Caterpillar shares closed Friday at $54.57 on the New York Stock Exchange.