OK so when does an item become American or Irish? Did Cat not buy Mitsubishi excavators and incorporate the newly acquired technology to the home built machines?, most of the Cat excavators here are Belgian built, Case and Linkbelt are tie ups with Summitomo so are they American or Japanese?
New Holland and Kobelco, JD and Hitachi..............are they true blue American or american assembled and not acceptable........Is an american built Toyota not just that American...............
Here at the moment things are tough with the economy in the pan most of the manufacturing jobs have migrated to the east, why because the customer wants it cheaper the manufacturer wants more profit.
just a rant........................
Last week end there were a jobs fair with recruiters from Canada and Australia the suspended the Que when it reached a km in length...............
I don't follow Caterpillar, I did not know how huge the company is, here are a few pieces of history off a google search. Looks like cat partnered with Mitsubishi in 1963.
1963. Caterpillar and Mitsubishi Heavy Industries Ltd. form one of the first joint ventures in Japan to include partial U.S. ownership. Caterpillar Mitsubishi Ltd. started production in 1965, has been renamed Shin Caterpillar Mitsubishi Ltd., and is now the No. 2 maker of construction and mining equipment in Japan.
1961-1966 - Kobe, Japan
Nine Caterpillar machines are involved in the effort to push part of a mountain into the sea as part of the Kobe Bay Reclamation Project.
When contractors needed more machines for the project, Caterpillar machines won out over Komatsu machines after on-the-job competitive demonstrations.
March 26, 2008 No.1229
MHI, Caterpillar and Shin Caterpillar Mitsubishi
Agree on Changes in Shareholding Ratio of Japanese Joint Venture
Tokyo, March 26, 2008 - Mitsubishi Heavy Industries, Ltd. (MHI), Caterpillar Inc. (Caterpillar) of Illinois, U.S.A., and Shin Caterpillar Mitsubishi Ltd. (SCM), the Japanese joint venture equally owned by MHI and Caterpillar, have agreed on changes in their shareholding ratio in the JV. The three companies’ respective aims have meshed in concluding the new agreement. MHI is currently promoting selection of focused business areas and concentrating its business resources into those areas; Caterpillar is seeking to strengthen its global business operations in the construction machinery business; and SCM is looking to strengthen its marketing in Asia based on its own strategy. Going forward, each company will promote expansion of its own business while maintaining strong business relationships with its partners.
Based on the agreement, MHI will transfer half of its shares in SCM (25% of SCM’s total outstanding shares) to SCM by the end of the third quarter of 2008. Following that transaction, Caterpillar will own 67% of SCM’s outstanding shares and MHI will hold the remaining 33%. The value of the deal is 50 billion yen. The agreement also includes an option enabling SCM to purchase the remaining shares owned by MHI after five years.
Although MHI’s shareholding stake in SCM will decrease as a result of the change in ownership structure, MHI intends on further enhancing its value by strategically focusing its management resources into its core competency businesses having high growth potential.
MHI and Caterpillar have been in a firm collaborative relationship in the manufacture and marketing of Mitsubishi and Caterpillar brand forklift trucks, and they will maintain that relationship even after the shareholding changes. Both parties also agreed that MHI will continue to supply Caterpillar and SCM with engines for construction machinery, including hydraulic excavators.
SCM was originally established as Caterpillar Mitsubishi Ltd., an equally owned joint venture between MHI and Caterpillar, in November 1963; with technological assistance from Caterpillar, it began as a producer and domestic vendor of track-type tractors and wheel loaders. In 1987, MHI’s hydraulic excavator business was transferred to the JV and it was renamed Shin Caterpillar Mitsubishi Ltd. In 2001, SCM further took the transfer of most of MHI’s construction machinery business, including small-size construction machinery, crawler carriers and articulated dump trucks.
With the shareholding ratio changes, SCM will now be released from business territory limitations. As a result, the JV is expected to become an ever more important business strategy base for Caterpillar in the Asian construction machinery market.
With the completion of the second phase of the share redemption plan, Caterpillar Japan Ltd. will become a 100 percent owned subsidiary of Caterpillar
TOKYO, Feb. 29, 2012 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) and Mitsubishi Heavy Industries, Ltd. (MHI) announced today that Caterpillar Japan Ltd. (CJL) and MHI have agreed to complete a second phase of a share redemption plan in the second quarter of 2012, resulting in Caterpillar becoming the sole owner of CJL. The estimated value of the second phase of the share redemption is 36.5 billion JPY.
Caterpillar and MHI established a 50-50 joint venture more than 45 years ago known as Caterpillar Mitsubishi. In 1987, the joint venture was expanded, and the company was renamed Shin Caterpillar Mitsubishi (SCM). In 2008, following completion of the first phase of the redemption plan, Caterpillar became the majority shareholder in SCM, and the business was renamed Caterpillar Japan Ltd.