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Article: Caterpillar, Mitsubishi Heavy Industries and Shin Caterpillar Mitsubishi are in Discussions on New Ownership Structure of Japanese Joint Venture.
- Article from:
- PR Newswire
- Article date:
- February 15, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Companies have agreed to proceed with discussions, which would lead to Caterpillar becoming the majority shareholder in Shin Caterpillar Mitsubishi Ltd.
TOKYO, Feb. 14 /PRNewswire-FirstCall/ -- Executives from Caterpillar Inc. , Mitsubishi Heavy Industries Ltd. (MHI) and Shin Caterpillar Mitsubishi Ltd. (SCM) have signed a nonbinding memorandum of understanding to conclude a plan that would result in a new ownership structure for SCM.
The companies are in discussions with the intention of reaching definitive agreements for the plan where Caterpillar would own the majority of the outstanding shares of SCM, with MHI owning the remaining shares.
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