This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Caterpillar To Expand Shandong Engineering Machinery (SEM) Product Line And Increase Capacity For SEM Wheel Loaders

QINGZHOU, China, March 22, 2012 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) announced today investments in new products and additional capacity for Shandong Engineering Machinery (SEM), its wholly-owned, Chinese construction equipment company.  These investments will transform SEM from a leading Chinese wheel loader manufacturer to a leading provider of a wide range of construction equipment. 

SEM currently produces wheel loaders, motor graders and paving products. With today's announcement, the company is adding a line of SEM-branded track-type tractors and will again add capacity for wheel loaders. Caterpillar Chairman and CEO Doug Oberhelman announced the expansion plans in Qingzhou at an event attended by senior Caterpillar leaders and representatives from the Qingzhou government.

" China has the largest construction equipment market in the world, and based on China's multi-year plan for continued infrastructure development and economic growth, we are continuing to invest in our operations in China to support our customers and to grow our business," Oberhelman said.  "Because of the unique nature and size of the Chinese market, our investments include our Cat-branded products and with this announcement, additional growth and expansion for our SEM brand."

Since purchasing SEM in 2008, Caterpillar has invested significant resources to develop new wheel loader models with improved product quality and reliability while increasing production capacity.  With this latest announcement, Caterpillar will have nearly tripled SEM wheel loader capacity by 2014 when all wheel loader expansion plans are expected to be completed.  In addition, the company plans to build a new facility at the SEM manufacturing campus to begin production of SEM-branded track-type tractors for the Chinese market and for export to some growth markets.  Initial production of SEM-branded track-type tractors is expected in late 2012, with production ramping up through 2013 and 2014.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,067.56 -30.89 -0.18%
S&P 500 2,002.28 -1.09 -0.05%
NASDAQ 4,598.1880 +17.9170 0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs