Caterpillar produces more than 10,000 hydraulic excavators in China

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Last updated at: (Beijing Time) Saturday, January 17, 2004

Caterpillar produces more than 10,000 hydraulic excavators in China

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Caterpillar Inc. (NYSE: CAT) has set another milestone in China with the shipment of the 10,000th Cat hydraulic excavator from the company's joint venture facility,Caterpillar Xuzhou Ltd. (CXL), a company official said here Friday.

"Since coming to China 28 years ago, Caterpillar has firmly committed to growing our business while serving as a good corporate citizen," said Caterpillar Vice President Stu Levenick. "And this milestone takes our core construction machinery businessan important step closer to establishing a leadership position in China.

"The production of the 10,000th hydraulic excavator is an important achievement for Caterpillar Xuzhou, and it validates two things -- the company's commitment to maintaining a strong presence in China and excellent execution by committed people," Levenick said.

He attributed to the company's success in China to the rapid economic development of the most populous country. "The current level of economic development in China is impressive and as we look ahead, it continues to present significant growth opportunities for Caterpillar," Levenick said.

Founded in 1994, Caterpillar Xuzhou Ltd. is a joint venture between Caterpillar and China's largest construction equipment manufacturer, Xuzhou Construction Machinery Group Co.

For more than 75 years, Caterpillar Inc. has been engaged in infrastructure building. With 2002 sales and revenues of 20.15 billion US dollars, Caterpillar is a technology leader and the world's largest maker of construction and mining equipment, dieseland natural gas engines and industrial gas turbines.

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