BIZCHINA / Overseas Investment
Caterpillar to build wheel-loader plant in China
(Xinhua)
Updated: 2006-07-26 14:32
Construction equipment maker Caterpillar is to build a wheel-loader
manufacturing plant in China's Jiangsu province.
The facility, wholly owned and operated by Caterpillar, would produce
medium-size wheel-loaders, said Rich Lavin, vice president of operations
for Caterpillar's Asia Pacific Division.
"This facility provide the primary manufacturing source for Caterpillar
wheel-loaders in the Asia theater," said Lavin.
Construction on the plant covering 57 acres in the Suzhou Industrial Park
will start in early 2007 pending government approvals.
A spokesman for the company declined to reveal the value of the
investment or the number of jobs to be created at the plant.
China's surging investment in rural infrastructure construction and
railways has brought a strong domestic demand for mechanical equipment.
"This wheel-loader manufacturing facility in Suzhou further demonstrates
Caterpillar's commitment to the continued expansion of our business in
China," said Stu Levenick, Caterpillar group president with
responsibility for Asia.
In the 1980s, the U.S.-based firm signed technology transfer agreements
with Chinese manufacturers to build Caterpillar licensed products. Its
expansion in China accelerated in the early 1990s with the establishment
of a more significant local production strategy.
Caterpillar operates 13 joint venture and wholly-owned businesses in
China.
(For more biz stories, please visit Industry Updates)
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