Caterpillar Announces Plan to Build
a New Wheel Loader Manufacturing Facility in China
PEORIA, Ill., July 24 /PRNewswire-FirstCall/ -- Caterpillar Inc. (NYSE: CAT) has signed an investment agreement with the Suzhou Industrial Park Administrative Committee (SIPAC) to build a new wheel loader manufacturing facility in the Suzhou Industrial Park in China's Jiangsu province. The new production facility will be wholly owned and operated by Caterpillar.
"This facility will add to Caterpillar's growing operations in China and provide the primary manufacturing source for Caterpillar wheel loaders in the Asia Theater," said Rich Lavin, vice president of operations for Caterpillar's Asia Pacific Division. "I would like to thank SIPAC for its support as we have worked to choose the best location for this new facility. This site offers Caterpillar a business-friendly environment with excellent access to port and ground transportation facilities, established suppliers and great people."
The proposed facility will be located on 57 acres of land in the Suzhou Industrial Park. Caterpillar intends to begin construction of the 350,000- square-foot building in early 2007 pending appropriate governmental approvals.
"The plan to build this wheel loader manufacturing facility in Suzhou further demonstrates Caterpillar's commitment to the continued expansion of our business in China in support of our overall enterprise strategy while continuing to provide our customers with the world-class products and product support that has made Caterpillar the global leader around the world," said Stu Levenick, Caterpillar group president with responsibility for Asia.
July 21, 2006