September 11, Caterpillar has signed the Asia-Pacific Production Center project with Wuxi New District Government. Caterpillar will invest 91.5 million USD to build its largest key parts manufacturing base in Wuxi. The new project will increase annual sales of1 billion USD when it is put into production.
China’s construction machinery market is in continuous downturn in 2012, while Caterpillar has faith in Chinese market. The company has invested more in China to expand product line and R&D base. The new project also shows that Caterpillar focuses much in its business in China.
For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2011 sales and revenues of $60.138 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services.