CAT and Mitsubishi Heavy Industries Agree to Expand Asian Operations

Tokyo – Mitsubishi Heavy Industries (MHI) and Caterpillar Inc., Peoria, Ill., have signed an agreement to expand operations of their joint venture, Shin Caterpillar Mitsubishi Ltd. (SCM). Based in Tokyo, SCM is equally owned by MHI and Caterpillar. The agreement allows SCM to invest in existing Caterpillar manufacturing facilities in China, India and Indonesia. SCM also plans to participate in developing new products that specifically target the Asian market.