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Caterpillar, Navistar near $586M China truck tie

Reuters | Caterpillar Inc and Navistar International Corp are finalising a 4
billion yuan ($586 million) truck and engine manufacturing tie-up with
China’s Jianghuai Automobile, a source with direct knowledge of the deal
said on Friday.

Initial investment in the project will be twice as much as the amount
previously disclosed — 2 billion yuan — as Jianghuai and Navistar are
also planning a separate 50-50 diesel engine tie, the source told

“There will actually be two joint ventures. The engine venture is meant
to be a supplier for the truck project,” said the source.

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