This Day On The Street
Continue to site
ADVERTISEMENT
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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,499.93 +148.55 0.91%
S&P 500 1,970.83 +21.97 1.13%
NASDAQ 4,792.1530 +42.1740 0.89%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs