TMCnet News

Caterpillar receives Chinese Ministry of Commerce approval for ERA acquisition

[April 18, 2012]

Caterpillar receives Chinese Ministry of Commerce approval for ERA acquisition

Apr 18, 2012 (M2 EQUITYBITES via COMTEX) -- Caterpillar Inc (NYSE: CAT) on Tuesday said that it has 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 (HKSE: 8043.HK).

Now, based on MOFCOM's approval, Caterpillar will move forward with its intention to acquire ERA. Financial details of the acquisition were not available.

ERA is a provider of underground coal mining equipment in mainland China through its wholly owned subsidiary Zhengzhou Siwei Mechanical & Electrical Equipment Manufacturing Co Ltd.

Caterpillar is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.

Comments on this story may be sent to [email protected]

[ Back To TMCnet.com's Homepage ]