Caterpillar (NYSE:CAT) recently announced it'll be acquiring the 15.9 percent stake of Xuzhou Construction Machinery Group in their joint venture Caterpillar Xuzhou Ltd., and after a period of expansion, will increase excavator manufacturing capacity by five-fold by 2014.
The two companies, which had been in the joint venture since 1995, didn't reveal any of the terms of the deal.
“In the next few years, we expect China to continue to invest heavily across the country in a wide range of infrastructure improvements,” Rich Lavin, Caterpillar group president with responsibility for emerging markets, said. “It is critical for Caterpillar and its dealer network to continue investing in China.”
The new plant, which had a groundbreaking ceremony on Tuesday, will manufacture larger excavators than they have been there.
Showing posts with label Excavator Business. Show all posts
Showing posts with label Excavator Business. Show all posts
Wednesday, June 30, 2010
Thursday, March 18, 2010
Caterpillar (NYSE:CAT) Moving Excavator Business to U.S.?
Caterpillar moving excavator business from Japan to U.S.?
Reports are Caterpillar (NYSE:CAT) has initiated a study which could possibly lead to transferring their Excavator business from Japan to the United States.
"The study is based on the current analysis of where the global excavator market is heading and how Caterpillar should position itself for continued leadership in the excavator industry," said Gary Stampanato, Caterpillar vice president with responsibility for excavators in a press release.
If the findings of the study make sense for such a move, Caterpillar would be the largest source of excavators serving the North American market.
The good news for Japan is it sounds like win/win situation if it comes about, as they could better serve the needs of the exploding Asia-Pacific markets, and would probably ramp up capacity and employment there as a result of the move - assuming it is decided by Caterpillar that they will go ahead with the transition.
Reports are Caterpillar (NYSE:CAT) has initiated a study which could possibly lead to transferring their Excavator business from Japan to the United States.
"The study is based on the current analysis of where the global excavator market is heading and how Caterpillar should position itself for continued leadership in the excavator industry," said Gary Stampanato, Caterpillar vice president with responsibility for excavators in a press release.
If the findings of the study make sense for such a move, Caterpillar would be the largest source of excavators serving the North American market.
The good news for Japan is it sounds like win/win situation if it comes about, as they could better serve the needs of the exploding Asia-Pacific markets, and would probably ramp up capacity and employment there as a result of the move - assuming it is decided by Caterpillar that they will go ahead with the transition.
Subscribe to:
Posts (Atom)