List Your Equipment  /  Dealer Login  /  Create Account

Caterpillar to Form Venture to Build Transmissions

Fri April 15, 2011 - National Edition
Construction Equipment Guide


NEW YORK (AP) Caterpillar Inc. said April 8 it agreed to form a joint venture with a Chinese transmission manufacturer that will build drivetrain systems and other components for Caterpillar machinery and produce a line of automatic transmissions for highway travel.

Caterpillar, which is looking to expand its range of products in China, would be a 45 percent stakeholder in the joint venture. Transmission maker Fast Gear would have 51 percent, and Shaanxi Fast Auto Drive Group Co. Ltd. would hold a 4 percent stake.

Caterpillar currently has nearly 8,000 employees across China.

The joint venture proposal requires regulatory approvals in China.




Today's top stories

Sherwin Williams' $300M HQ Under Way in Cleveland

Waterbury, Conn.,Transformation Continues With Mixmaster Project

Allan Myers Leads U.S. 40 Bridge Project in Maryland

CNH Industrial Ceases Sale of Construction Equipment in China

Infrastructure Bill … One Year Later

Bonnell Industries Acquires Flink Assets

Hamm Introduces New Compactors in HC Series for Earthworks

John Deere Debuts Next Phase of Performance Tiering Excavators, Including Mid-Size 200 G-Tier


 






ceg-logo ceg-logo ceg-logo ceg-logo ceg-logo
39.04690 \\ -77.49030 \\ Ashburn \\ VA