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Article: CATERPILLAR EXPANSION IN CHINA GAINS MOMENTUM.
- Article from:
- AsiaPulse News
- Article date:
- April 26, 2004
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(Full text of a statement, contact details below)
BEIJING, April 26 /PRNewswire-FirstCall-AsiaNet/ -- Caterpillar Inc. (NYSE: CAT) announced today the formation of a new Beijing-based leasing entity and marked another milestone in the company's expansion of its global business model in China. The establishment of Caterpillar (China) Financial Leasing Co., Ltd., follows licensing approval from the Chinese Ministry of Commerce (MOFCOM) and the related business license issued on April 23, 2004. The new operation is a wholly foreign-owned enterprise, with ownership shared by two Caterpillar subsidiaries -- Caterpillar Financial Services Corporation with a 75 percent ...