Caterpillar Inc. announced a new expansion
project for the company's manufacturing facility in Xuzhou，China. Once
completed in 2016, it will increase hydraulic excavator production by an additional 80
percent. Caterpillar also announced plans today to begin production of wheeled
excavators at CXL beginning in early 2014，further expanding
the range of products and services Caterpillar is offering to MErs in China and
other growth markets.
For more than 85 years, they have made investments
with a long-term view toward the market and building out an industry-leading
range of products and support services for our growing base of customers in
China.
In the last seven years as they have grown
their operations in China, Caterpillar's business from the United States to
China have more than doubled.
CXL has become Caterpillar's flagship for
manufacturing operations in China with leading product quality， safety and
employee engagement. In recent years， the company and its
independent dealers have made significant investments to expand the range of
products and components produced in China， increase and
improve customer support services， and expand and enhance dealer coverage in every province. CurrenTLy， Caterpillar
has 17 facilities in China and another nine under construction.
The plan to manufacture wheeled excavators
in China fits within Caterpillar's strategy for developing the widest and
deepest product offering and support for the market. Currently， Caterpillar
produces wheeled excavators in Grenoble，France. Production
in Grenoble will continue， while the wheeled excavators produced in China will position
Caterpillar to compete in China and other growth markets with this product.
"Caterpillar has been successfully
producing excavators in China for nearly 20 years， and we are
expanding our production capabilities as this market continues to grow，" said
Gary Stampanato， Caterpillar vice president with responsibility for excavators.
"Bringing production of wheeled excavators to China will give our
customers more options and will position Caterpillar for continued success，"
Stampanato added.
The additional hydraulic excavator capacity
is subject to certain governmental agreements and approvals. The increases are
expected to be in place in 2016， while production of the first wheeled excavator in Xuzhou is
expected in the first quarter of 2014.
Forward-Looking Statements
Certain statements in this press release
relate to future events and expectations and are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
These statements do not guarantee future performance，and we do
not undertake to update our forward-looking statements.
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