Caterpillar acquires joint venture operation in India

As part of its plan to improve operational excellence in Asia, Caterpillar Inc. on November 16 announced it has completed the acquisition of a former joint venture engine operation in Mathagondapalli, Hosur, India. The joint venture was originally formed in 1988 as Hindustan PowerPlus Limited. It is now a Caterpillar wholly owned subsidiary and has been renamed Caterpillar Power India Private Limited. Caterpillar chairman and CEO Jim Owens visited the engine facility to take part in a ceremony announcing the new name.

"Completing this transaction will help Team Caterpillar better serve our customers who are involved in the remarkable progress that is taking place in India in the areas of infrastructure improvements and energy development," said Owens. "The acquisition also aligns this operation more closely with the other power systems groups that are part of the global Caterpillar family."

Caterpillar Power India Private Limited produces heavy-duty diesel engines for machines and generator sets and produces engine components. A large majority of the products manufactured at the facility are sold in the domestic market in India.

"The employees at Caterpillar Power India Private Limited are passionate about making engines, generator sets and components that give our customers the highest levels of quality, reliability and productivity," said Rich Lavin, Caterpillar vice president with responsibility for operations in the Asia Pacific region. "This engine facility is an important part of our strategy as we continue to grow our business in Asia."

For more than 80 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2005 sales and revenues of $36.339 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.