Caterpillar ( CAT) agreed to build a new wheel loader manufacturing facility in the Suzhou Industrial Park in China's Jiangsu province.

The new production facility, wholly owned and operated by Caterpillar, will be located on 57 acres of land.

The Peoria, Ill.-based company wants to begin construction of the 350,000- square-foot building in early 2007 pending appropriate governmental approvals

"This facility will add to Caterpillar's growing operations in China and provide the primary manufacturing source for Caterpillar wheel loaders in the Asia Theater," the company said.

This story was created through a joint venture between TheStreet.com and IRIS.

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