Economy
Financial Markets
Energy & Commodities
Industries
Stocks / IPOs
Real Estate
Company - Domestic
Company - Overseas
R&D
Industrial Parks

 
Company - Domestic
 Search News  Or
Caterpillar to buyout Caterpillar Xuzhou

Jun. 29, 2010 (China Knowledge) - Caterpillar Inc, the world's largest producer of bulldozers and excavators, said on Monday that it has reached an agreement with Xuzhou Construction Machinery Group to acquire the latter's 15.87% stake in Caterpillar Xuzhou Ltd, a joint venture between Caterpillar and XCMG, sources reported.

Upon the completion of the acquisition, Caterpillar Xuzhou, which was established in 1995, will become a wholly-owned subsidiary of Caterpillar.

Caterpillar didn't disclose the terms of the transaction. The acquisition is still subject to Chinese regulatory approval.

Caterpillar's excavator expansion plans are expected to complete in 2014. The firm's China-based excavator capacity will increase by 400%.

Caterpillar and Navistar International Corp are finalizing a truck and engine manufacturing tie-up with China's Anhui Jianghuai Automobile Co<600418>. The tie-up will involve an investment of RMB 4 billion, twice as much as the previously-disclosed amount of RMB 2 billion, China Knowledge reported earlier.







Copyright © "2013" www.chinaknowledge.com

Send feedback or comments to: news@chinaknowledge.com

For more news, financial weekly reports, business guides to China, Market Research Reports and other premium information, subscribe to China Knowledge today

To access our page on Bloomberg, type CKFI (GO)

 Our Professional Services
 News Archive
About Us | CSR | Media Center | E-Newsletter | E-Store | Contact Us | Feedback | Sitemap | Privacy Policy | Terms of Use  

           Copyright © 2014 China Knowledge Online. All Rights Reserved