Beijing, (ANTARA Nes/ PRNewswire-AsiaNet) - Caterpillar Inc. (NYSE: CAT) Chairman and CEO Jim Owens visited Caterpillar's newest prime product manufacturing facility in China, Caterpillar Paving Products (Xuzhou) Limited (CPPX), during his most recent visit to Asia. The CPPX facility produces Asphalt Compactors, Cold Planers and Soil Compactors.
This facility is an essential part of Caterpillar's global strategy to competitively manufacture products in all regions of the world for Caterpillar customers.
"We are continuing to make significant new investments in China to provide our customers here with the world's best products and services," said Owens.
"The paving facility is one of many examples of our commitment to this market."
In addition to supplying paving products to customers in China, CPPX will also supply the Asia Pacific region, Africa, the Middle East and parts of the Commonwealth of Independent States.
"This facility joins our other paving product plants, which are strategically located in the Americas and Europe. It is the centerpiece of our growing paving business in the Asia Pacific region and will ensure Caterpillar's ability to support the infrastructure needs of a growing China," said Mike Baunton, Caterpillar Vice President with responsibility for the Global Paving business.
"CPPX is also a critical addition to our unsurpassed global footprint which will support our worldwide customers."
Caterpillar is also currently building a new engine campus in Wuxi, China and a facility in Suzhou that will produce world-class medium wheel loaders and motor graders.
In addition to its core machinery, engine and component manufacturing locations in China, Caterpillar's integrated service businesses include logistics, remanufacturing, financial leasing, training, marketing and research and development.
Caterpillar Dealers in China continue to expand their network of dealer branches and Cat Rental Stores, which employ more than 5000 people and use the most advanced service tools to provide the best support services in the industries they serve.
"Chinese customers can really count on Caterpillar," said Rich Lavin, Caterpillar's Group President with responsibility for Asia Pacific.
"Being in business is more than just building machines and engines. Caterpillar is a partner and provider of sustainable development solutions for China."
Lavin and other business leaders recently attended the China Development Forum in Beijing, which highlighted social and economic sustainability in China and long-term energy-saving strategy.
Caterpillar helped China build the world's largest coal methane gas power plant, which will significantly reduce greenhouse gas emissions, improve mine safety and provide an environmentally friendly fuel source to generate electricity.
In February of this year, China experienced the worst winter storm in more than 50 years.
The Caterpillar Foundation made a donation of $150,000 to the Red Cross to assist in snowstorm relief efforts.
In addition, Caterpillar Dealers also provided machinery free of charge to help clear major roads and highways, and generator sets to provide electricity for hospitals and to support telecommunication needs in the eastern region of China, an area where the country was hardest hit.
"Caterpillar has a long history in China. This is our home," said Tom Bluth, Caterpillar Vice President, who is based in Beijing and has responsibility for Asia Pacific manufacturing operations.
"We will continue to look for ways to contribute to the communities where we all work and live," he added. Caterpillar's headquarters for Asia Pacific manufacturing operations was moved to Beijing from Tokyo, Japan in 2006.
For more than 80 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent.
With 2007 sales and revenues of $44.958 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.
The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at http://www.cat.com
SAFE HARBOR
Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of Caterpillar Inc. to be different from those expressed or implied in the forward-looking statements.
In this context, words such as "will," "expect," "anticipate" or other similar words and phrases often identify forward-looking statements made on behalf of Caterpillar.
It is important to note that actual results of the company may differ materially from those described or implied in such forward-looking statements based on a number of factors and uncertainties, including, but not limited to, changes in economic conditions; currency exchange or interest rates; political stability; market acceptance of the company's products and services; significant changes in the competitive environment; epidemic diseases; changes in law, regulations and tax rates; and other general economic, business and financing conditions and factors described in more detail in the company's Form 10-K filed with the Securities and Exchange Commission on February 22, 2008.
This filing is available on our website at http:/www.cat.com/sec_filings We do not undertake to update our forward-looking statements.
SOURCE: Caterpillar Inc.
CONTACT: Kate Wang of Caterpillar (China) Investment Co., Ltd.,
(86-10)-5921-0112,
Mobile, (86)-1350-108-4027,
wang_kate@cat.com
Web site: http://www.CAT.com
COPYRIGHT © 2008
No comments:
Post a Comment