Caterpillar to expand research, production in China
Caterpillar will establish a new research-and-development center at the site of its manufacturing campus in Wuxi, China.
Caterpillar will establish a new research-and-development center at the site of its manufacturing campus in Wuxi, China. The Chicago Tribune reported that Caterpillar will also expand its wheel-loader production capacity at another Chinese facility. Caterpillar’s Asian production plants manufacture products for sale in Asian markets, as opposed to using China as a low-cost manufacturing option, as other US manufacturers have begun to do.
The marketplace for Caterpillar’s goods increased due to China’s industrial growth and infrastructure projects. Caterpillar moved the headquarters of its Asia Pacific operations from Tokyo to Beijing in 2006. The Wuxi plant began manufacturing Cat. Components in mid-2006 and the engine facility will begin production late in 2008.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey