January 11, 2013
Manufacturing giant Caterpillar (NYSE: CAT ) has opened two facilities in Tongzhou, a city in China's Jiangsu Province. One of the facilities will be a manufacturing plant for large wheel loaders, while the other will be a proving ground as the facilities support Caterpillar's growing Chinese operations, as well as its presence in other emerging markets.
The loader manufacturing facility will help support the company's mining and quarry operations as Caterpillar looks to take advantage of the growth in China's mining industry. The proving grounds will support and provide servicing and validation for company products made in China or other nearby regions.
Caterpillar group president Steve Wunning, responsible for Resource Industries, spoke of his company's developments in China in a press release Wednesday, saying, "Caterpillar takes a long-term view of the market in China, and our focus on product development here will enable our strategy to win in China."
With the new China facilities in operation, Caterpillar says it has 23 existing manufacturing facilities, four new facilities under construction, four R&D centers and three logistics and parts centers, employing more than 15,000 people across the country.