Caterpillar Makes Offer to Acquire ERA Mining Machinery

By WEEK Reporter

Caterpillar Makes Offer to Acquire ERA Mining Machinery

November 11, 2011 Updated Nov 11, 2011 at 1:41 PM CDT

HONG KONG-- Caterpillar, Inc. announced Thursday that it has made a pre-conditional offer to acquire China-based ERA Mining Machinery Ltd. 

ERA is responsible for design, manufacture, and selling underground coal equipment in mainland China. 

Steve Wunning, Caterpillar group president with responsibility for Resource Industries says the move to acquire the company is part of Cat's long-term commitment to investing in China.

"We intend to build on...relationships in China, further investing in its mining roof support business and operations, while utilizing Caterpillar's global reach and organization to help bring [ERA] products to more customers outside China," said Wunning. 

Currently, Caterpillar has 16 locations for manufacturing, four research and development facilities, three logistics and parts centers and other offices in China.  Additionally, nine new facilities are currently under construction.