Asia Key Growth Driver For Heavy Equipment Industry

Despite a troubling 2009 which saw the company forced to make job cuts after recording its first quarterly loss for 17 years in Q109, heavy equipment industry giant Caterpillar has successfully expanded its footprint in Asia with the acquisition of South Korean specialist manufacturer JSC. For Illinois-based Caterpillar, the strategic buyout of JSC from manufacturer Jinsung TEC will help strengthen its supply chain in the region, as the South Korean firm already makes components for Caterpillar's construction equipment. Interestingly, Caterpillar, which has long been lobbying for Congressional support of a US free-trade agreement with Seoul, seems to be hurdling tariffs on exports to South Korea with its acquisition of the local market-based firm.

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