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NEW YORK - Heavy equipment maker Caterpillar Inc. said Monday it plans to build a facility to manufacture hydraulic excavators in China, as part of an ongoing plan to invest in emerging markets.
| CAT | 70.53 |  -1.15 |
Financial terms were not disclosed.
The 365,000 square-foot plant will produce small-sized excavators, Caterpillar said, each weighing less than 20 tons. The facility will be built on 37 acres of land in the Jiangsu province beginning early next year, pending government approval.
Caterpillar has 16 operations, including joint ventures and wholly owned businesses, in China.
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