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Caterpillar expands business in China
- January 25, 2005
- News Release
- Shop Management
Caterpillar Inc. today announced 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 facility will provide a focal point for product development and will accelerate the introduction of the company's technology into its design and production processes in China. The planned facility is the latest step in a multi-year strategy introduced by the company in 2003 to expand its presence in China. The center will be managed and wholly owned by Caterpillar.
The center will support several China-based ventures in the future, including Shandong SEM Machinery Co. Ltd., a wheel loader manufacturer. Caterpillar previously signed definitive agreements to acquire a minority interest in SEM. The company also is engaged in preliminary discussions with other Chinese manufacturers, which could result in future investments.
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The Fabricator is North America's leading magazine for the metal forming and fabricating industry. The magazine delivers the news, technical articles, and case histories that enable fabricators to do their jobs more efficiently. The Fabricator has served the industry since 1970.
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