Caterpillar and Mitsubishi deal in Japan

  • 19-Jun-2008 09:10 EDT

Caterpillar Inc., Mitsubishi Heavy Industries Ltd. (MHI), and Shin Caterpillar Mitsubishi Ltd. (SCM) signed definitive agreements that include a share redemption plan that will result in Caterpillar owning 67% of SCM. The business will be renamed Caterpillar Japan when the first phase of the deal closes in the third quarter of 2008. The estimated value of the first phase of the share redemption is ¥50 billion. SCM is primarily involved in the manufacture and sale of Caterpillar-branded hydraulic excavators, wheel loaders, and track-type tractors. Caterpillar also recently acquired Lovat, a global manufacturer of tunnel boring machines used in the construction of metro, railway, road, sewer, water main, penstock, mine access, high-voltage cable, and telecommunications tunnels. The financial details of the acquisition are not being released.

Share
HTML for Linking to Page
Page URL
Grade
Rate It
3.86 Avg. Rating

Read More Articles On

2016-12-20
With a rich technical background from which to draw as SAE International's new 2017-2020 Commercial Vehicle Sector VP, Landon Sproull intends to bolster the society’s involvement in evolving industry regulations and to better cultivate cross-sector alliances.
2017-07-07
Stringent fuel-efficiency and criteria-pollutant standards call for new combustion strategies. The Advanced Combustion Catalyst and Aftertreatment Technologies consortium led by Southwest Research Institute reinvents existing technologies and experiments with new catalysts to meet standards.
2017-07-12
Performance, reliability, and safety assessments performed using predictive capability for electromechanical systems are on the rise, yet no standard exists in the truck and off-highway engineering design industry for representing the degree to which a model has been validated. Such a standard can enable engineers and managers with a tool to assess the maturity of predictive capability itself.
2017-07-14
Connectivity, automation and electrification: Three inexorable trends that will largely drive on- and off-highway vehicle developments in the coming years, according to industry experts presenting keynotes at the revamped 2017 SAE COMVEC event. And with greater connectivity comes greater cyber concerns, they warn.

Related Items

Training / Education
2017-10-30
Book
2012-11-01
Training / Education
2017-10-17
Training / Education
2017-11-15
Training / Education
2017-08-28