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Article: Caterpillar, Mitsubishi Heavy Industries and Shin Caterpillar Mitsubishi Announce Definitive Agreement For Japanese Joint Venture.
- Article from:
- PR Newswire
- Article date:
- March 26, 2008
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Under share redemption plan, Caterpillar would become the majority shareholder in Shin Caterpillar Mitsubishi Ltd. with an option to reach full ownership after five years.
TOKYO, Japan, March 26 /PRNewswire-FirstCall/ -- Executives from Caterpillar Inc. , Mitsubishi Heavy Industries Ltd. (MHI) and Shin Caterpillar Mitsubishi Ltd. (SCM) have signed definitive agreements that include a share redemption plan which will result in Caterpillar owning 67 percent of SCM. The business will be renamed Caterpillar Japan when the first phase of the deal closes, expected to be in the third quarter of 2008.
The definitive agreements were signed at a ceremony in Tokyo ...