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min2664 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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