Caterpillar to continue investments in Chinese subsidiary SEM despite industry downturn
Caterpillar Inc, a global manufacturer of construction and mining equipment, will continue its investments in Chinese subsidiary SEM despite an industry downturn, said a senior executive on Wednesday.
Alan Yang, Caterpillar senior vice-president, said SEM, located in Qingzhou, Shandong province, boasts a 65-year history during which it worked to deliver more affordable and accessible products. "We will continue to invest in SEM, helping our customers build a better and more sustainable world."
The remarks were made at the ongoing China Beijing International Construction Machinery, Building Material Machines and Mining Machines Exhibition & Seminar, which is held from Wednesday to Saturday in Beijing.
Caterpillar launched three new products on Wednesday at the BICES, among which two are from SEM.
With a total indoor and outdoor exhibition area of more than 1,800 square meters, the Caterpillar displays at the BICES include machines, interactive multimedia systems, scale models, and a sand table of work fields.