Caterpillar receives approval for acquisiton

By WEEK Reporter

Caterpillar receives approval for acquisiton

April 17, 2012 Updated Apr 17, 2012 at 10:57 AM CDT

HONG KONG -- Caterpillar announced on Tuesday that it has received notification from the Ministry of Commerce of the People's Republic of China (MOFCOM) that it has approved the company's acquisition of ERA Mining Machinery Limited.

Based of MOFCOM's approval, Cat will seek to move forward with their acquisition of ERA.

ERA primarily designs, manufactures, sells and supports underground coal mining equipment in China through its subsidiary Zhengzhou Siwei Mechanical and Electrical Equipment Manufacturing.