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Area of Practice: Lifting and material handling equipment, cranes (overhead, terrain, special), elevating platforms, conveyors. Off-road machinery, earth moving equipment, trench walls stability, drilling equipment. Construction equipment, concrete pouring and vibrating, precast concrete, prestressed concrete production, demolition. Steel structures fabrication, transportation, assembling and erecting, scaffolding. |
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Wednesday, January 26, 2005
Caterpillar Further Expands Business in China
Establishment of Innovation Center supports multi-year investment strategy for expanded Caterpillar presence in China
BEIJING, People's Republic of China (PRC), Jan. 25 /PRNewswire-FirstCall/ -- Caterpillar Inc. (NYSE: CAT - News) announced today the selection of the city of Qingdao in Shandong Province as the location for a state-of-the-art Innovation Center for product and process development in China. This commitment to technical excellence in China will provide a focal point for product development and will accelerate the introduction of Caterpillar technology into its design and production processes in China. The announcement of this planned investment is the latest step in a multi-year strategy introduced by Caterpillar in 2003 to significantly expand its presence in China. This center will be managed and wholly owned by Caterpillar.
The Innovation Center will support several China based ventures in the future, including Shandong SEM Machinery Co., Ltd., one of China's key wheel loader manufacturers. Caterpillar previously announced the signing of definitive agreements to acquire a minority interest in SEM. In addition, Caterpillar is engaged in preliminary discussions with other Chinese manufacturers, which could result in additional future investments.
While making this announcement with Shandong Province government officials, Caterpillar's Asia Pacific Operations Vice President Rich Lavin said, "We appreciate the foresight of China's leadership and the strong relationship that has been built between Caterpillar, Shandong Province, and SEM that further strengthens our foundation for growth in China. These proposed investments demonstrate our confidence in China's future. We are on track to take our core construction machinery business an important step closer to a leadership position in China."
Please visit Caterpillars' page on CMO
Establishment of Innovation Center supports multi-year investment strategy for expanded Caterpillar presence in China
BEIJING, People's Republic of China (PRC), Jan. 25 /PRNewswire-FirstCall/ -- Caterpillar Inc. (NYSE: CAT - News) announced today the selection of the city of Qingdao in Shandong Province as the location for a state-of-the-art Innovation Center for product and process development in China. This commitment to technical excellence in China will provide a focal point for product development and will accelerate the introduction of Caterpillar technology into its design and production processes in China. The announcement of this planned investment is the latest step in a multi-year strategy introduced by Caterpillar in 2003 to significantly expand its presence in China. This center will be managed and wholly owned by Caterpillar.
The Innovation Center will support several China based ventures in the future, including Shandong SEM Machinery Co., Ltd., one of China's key wheel loader manufacturers. Caterpillar previously announced the signing of definitive agreements to acquire a minority interest in SEM. In addition, Caterpillar is engaged in preliminary discussions with other Chinese manufacturers, which could result in additional future investments.
While making this announcement with Shandong Province government officials, Caterpillar's Asia Pacific Operations Vice President Rich Lavin said, "We appreciate the foresight of China's leadership and the strong relationship that has been built between Caterpillar, Shandong Province, and SEM that further strengthens our foundation for growth in China. These proposed investments demonstrate our confidence in China's future. We are on track to take our core construction machinery business an important step closer to a leadership position in China."
Please visit Caterpillars' page on CMO
