Caterpillar is close to Chinese truck deal

06/11/2010 | Reuters

Caterpillar and Navistar International are close to finalizing a $586 million truck-and-engine manufacturing partnership with China's Jianghuai Automobile, according to sources quoted in this article. "The partners have already reached agreement on major issues. They are pouring over some technical details now, and the case could be closed pretty soon," one source says. If the deal is completed, Caterpillar and Navistar will be just the latest firms to enter China's $21.9 billion heavy-truck market.

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