Cat Completes Purchase Of Indian JV

Posted on November 16, 2006

Caterpillar Inc. announced it has completed the acquisition of a former joint venture engine operation in Mathagondapalli, Hosur, India. The joint venture was originally formed in 1988 as Hindustan PowerPlus Limited. It is now a Caterpillar wholly owned subsidiary and has been renamed Caterpillar Power India Private Limited. Financial terms were not disclosed.

"Completing this transaction will help Team Caterpillar better serve our customers who are involved in the remarkable progress that is taking place in India in the areas of infrastructure improvements and energy development," said Caterpillar Chairman and CEO Jim Owens. "The acquisition also aligns this operation more closely with the other power systems groups that are part of the global Caterpillar family."

Caterpillar Power India Private Limited produces heavy-duty diesel engines for machines and generator sets and produces engine components. A large majority of the products manufactured at the facility are sold in the domestic market in India.