By Reuters
A top executive with Caterpillar Inc., the world’s largest maker of earth-moving construction and mining equipment, said Friday the company plans to spend more than $1 billion to increase its manufacturing capacity in China.
In an interview at an event tied to the U.S. visit this week of Chinese President Hu Jintao, Rich Lavin, a group president at Caterpillar, said his company’s current network of 11 Chinese plants was not enough to produce the “market-leading volumes” Caterpillar hopes to be producing by 2015. Get the full story »
June 19, 2010 at 3:44 p.m.
Filed under:
China,
Construction,
International
By Reuters
Caterpillar Inc. , the U.S. machinery giant that sells billions of dollars of earth-moving equipment and other products to China each year, said on Saturday it was heartened by China’s move to gradually make the yuan more flexible, saying it would help lift U.S. exports.
“Caterpillar is encouraged by this development,” said Rich Lavin, a group president with the company who is responsible for emerging markets, “and we believe over time that a stronger Chinese currency will promote more exports from the U.S. to China.” Get the full story »
