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Caterpillar Receives MOFCOM Approval For ERA Acquisition
The Ministry of Commerce of the People’s Republic of China gives clearance for acquisition to proceed
Caterpillar Inc. received notification from the Ministry of Commerce of the People’s Republic of China (MOFCOM) that it has formally approved the company's planned acquisition of ERA Mining Machinery Limited (ERA).
Based on MOFCOM's approval, Caterpillar will move forward with its previously announced intention to acquire ERA.
ERA primarily designs, manufactures, sells and supports underground coal mining equipment in mainland China through its wholly owned subsidiary Zhengzhou Siwei Mechanical & Electrical Equipment Manufacturing Co., Ltd., commonly known as "Siwei."
For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2011 sales and revenues of $60.138 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at: http://www.caterpillar.com.
Article Date: 2012-04-23
Source: Caterpillar Inc.
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