Caterpillar to build transmissions in China venture

By Associated Press
Posted April 8 at 9:33 a.m.

Caterpillar Inc. said Friday it agreed to form a joint venture with a Chinese transmission manufacturer that will build drivetrain systems and other components for Caterpillar machinery and produce a line of automatic transmissions for highway travel.

Peoria-based Caterpillar, which is looking to expand its range of products in China, would be a 45 percent stakeholder in the joint venture. Transmission maker Fast Gear would have 51 percent, and Shaanxi Fast Auto Drive Group Co. Ltd. would hold a 4 percent stake.

Caterpillar, the world’s largest maker of construction and mining equipment, currently has nearly 8,000 employees across China.

The joint venture proposal requires regulatory approvals in China.

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One comment:

  1. Basher 5-2 April 8 at 8:37 a.m.

    Very exciting. And this JV will create jobs in the USA, right? Surprise, the article implies but does not state that the manufacturing location won’t be in Peoria.

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