Cat Signs Three Deals in China
Posted on August 19, 2005Caterpillar Inc. subsidiaries in China have signed three non-binding memoranda of understanding (MOUs) with an industrial park development company affiliated with the Shanghai Municipal Government. The three MOUs all involve the Shanghai Lingang Economic Development Co., Ltd.
The potential deals include Caterpillar Remanufacturing Services establishing the Lingang Industrial Area as its center in China to support Caterpillar customers and dealers in China and the Asia Pacific region. The Lingang Group and Caterpillar reaffirmed their commitment to Caterpillar's China Distribution Center in the Lingang Industrial Area and to establish a regulatory system that facilitates trade and investment in the region. Third, a proposed service consortium alliance between Caterpillar Logistics Services and Lingang Group would establish a service center to attract investors and clients to the Lingang Industrial Area.