Chinese economy just slows down in some separate aspects, and Caterpillar doesn't get affected, said CEO of Caterpillar Inc. James Owens recently, according to International Finance News.
The company will invest 20 million USD to establish a multifunctional research and development center in Wuxi, east China's Jiangsu Province, accroding to James Owens.
The project of the center will be divided into four phases. The first phase project will start in October 2008 and be completed by the end of 2009.
James Owens estimated that Caterpillar will have more than 2 billion USD sales in China this year. Moreover, it will invest 1 billion USD in emerging markets including Chinese market in the next three years.
By People's Daily Online
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