TRUCKMAKERS NEWS * WORLDWIDE
* China - CAT, Navistar near $586 mln truck/engine tie-up
Shanghai,SH,China -Reuters, by Fang Yan and Jacqueline Wong; & James B. Kelleher in Chicago; Editing by Steve Orlofsky -June 11, 2010: -- Caterpillar Inc. and Navistar International Corp, are finalising a 4 billion yuan ($586 million) truck and engine manufacturing tie-up with China's Jianghuai Auto, a source with direct knowledge of the deal said on Friday, as they move to secure a foothold in the world's largest auto market... Global truck giants, such as Daimler AG and MAN, are increasingly turning to China where demand for heavy vehicles is strong because of an infrastructure construction boom, fuelled by Beijing's 4 trillion yuan economic stimulus package... Initial investment in the Caterpillar/Navistar China project will be twice as much as the amount previously disclosed -- 2 billion yuan -- as Jianghuai Automobile and Navistar are also planning a separate 50-50 diesel engine tie, the source said... Initial capacity of the heavy truck project, to be based in Jianghuai's home base in the eastern city of Hefei, is 40,000 units, said the source... (Photo from infoseekchina: truck)
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