Caterpillar expects record sales on China demand

08/29/2008 | Forbes

Caterpillar said it expects to hit sales records this year, as demand for construction equipment heats up in China, even as the U.S. housing market cools down. Caterpillar has sold out its equipment through 2010 in Asia and announced plans to add capacity to at least one Chinese manufacturing facility to meet demand. Sales from China alone are expected to top $2 billion for 2008, with global sales hovering at $50 billion.

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