In the mid of this year, #Caterpillar completed the acquisition of Buycrus
mining, and now the equipment making giant is looking east to further expand
their businesses to serve their Asian customers. Caterpillar has made a bid for
Hong Kong listed ERA Mining Machinery, who owns Zhengzhou Siwei Mechanical &
Electric Equipment Manufacturing, a supplier of mining equipment based in
China's Henan Province. Caterpillar intends to "build on Siwei's strong
reputation and relationships in China, further investing in its mining roof
support business and operations," according to a statement by Steve Wunning,
Caterpillar group president with responsibility for resource industries.
Caterpillar will also "bring Siwei's products to more customers outside of
China," he said. The Asia-Pacific region as a whole is the world's largest
and fastest-growing market for coal. Read the forbes article here:
http://www.forbes.com/sites/russellflannery/2011/11/12/caterpillar-bid-lifts-era-mining-shares-by-21-in-latest-hk-takeover/
This growth has led to the company becoming a well sought after employer during
these volatility times – especially with the company announcing its plans to
hire 1,000 people for its new proposed new plant, a much needed relief after
months of mediocre job data. It is no small wonder that what many US state
officials want for Christmas is new Caterpillar Inc. construction-equipment
factory! Caterpillar is a gold sponsor at the Asia Mining Congress 2012 in
Singapore. To learn about Asia Mining Congress, visit
http://www.terrapinn.com/conference/asia-mining-congress/ or download our
brochure here
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