Archive for July 4th, 2010

Caterpillar projects bigger sales in China (2006-3-31)

CATERPILLAR Corp, the world\'s largest mining and construction equipment manufacturer, projected an increase in sales in China this year, fueled by the aggressive construction of infrastructure nationwide. James W. Owens, chairman and chief execuitve officer of Caterpillar, visited Shanghai yesterday for the opening of its new logistics center in Lingang Industrial Zone. He said Caterpillar China revenue was US$700 million to US$800 million in 2005 and would likely top US$1 billion this year. Owens said sales would more than double in the next five years as China continues to build expressways and subways. "We will continue to introduce more of our products into China to increase productivity, make more components for our machines as well as for exporting, along with the expansion of our sales networks to better serve our customers," he said. Sales of Caterpillar China currently accounts for less than 2 percent of its global sales. Owens said its… Continue reading

China to begin construction of Shanghai-Hangzhou high-speed rail link this year (2006-4-3)

Work will begin this year on a 35 billion yuan (US$4.3 billion) high-speed magnetic levitation train line between Shanghai and the resort city of Hangzhou, the government said Friday.Planners are conducting feasibility studies and have begun negotiations on cooperation between the various departments involved in building the 175-kilometer (110-mile) railway, which will be able to travel up to 450 kilometers per hour (280 mph), according to a statement posted on the city government\'s Web site.A new government-backed company will be set up to oversee the project, the state-run newspaper Shanghai Daily cited Chen Xiaoyun, director of the city\'s Cooperation and Development Department, as saying.The railway will be the world\'s second commercially operating maglev train. The first, built with German technology, links Shanghai\'s Pudong Airport with the city\'s financial district.Maglev technology uses powerful magnets to suspend a train above a track and propel it at high speeds.The new line will begin in… Continue reading

China targets commercial bribery in construction industry (2006-4-3)

China has launched a nationwide campaign to crack down on rampant commercial bribery in its construction industry. Liu Zhifeng, vice-minister of construction, said on Wednesday the campaign is part of the central government\'s efforts to wipe out commercial bribery in various economic sectors so that the principles of clean government and fair competition could be upheld in the country\'s burgeoning market economy. Various forms of commercial bribery are believed to be prevalent in the construction industry of China, which now boasts half the world\'s new buildings completed every year. Liu urged industry watchdogs and construction enterprises to carry out a self-examination and rectification campaign. Major cases exposed in the campaign shall be investigated thoroughly and the offenders shall be brought to justice, no matter who they are, he said. The vice minister also stressed the need for the establishment of a long-term mechanism for the prevention of commercial bribery. For example… Continue reading

U.S. Cites 62 Countries for Unfair Trade (2006-4-3)

The Bush administration on Friday cited 62 trading partners for erecting unfair barriers to American exports, with China coming in for criticism in such areas as failure to crack down on copyright piracy.The survey of the worst trade barriers faced by U.S. companies was included in the "National Trade Estimate Report on Foreign Trade Barriers," a report the administration is required to produce annually to highlight areas for special attention by American trade negotiators."We have an aggressive and proactive agenda to open markets and reduce trade barriers," said Jim Mendenhall, the general counsel for the Office of the U.S. Trade Representative. "Our job is to break down these barriers."One of the country\'s receiving a large amount of attention in the new report was China, criticism that was seen as part of an ongoing effort by the administration to demonstrate it is taking a harder line with China in an effort to… Continue reading

Expansion Planned For FG Wilson (2006-4-3)

Caterpillar\'s FG Wilson (Engineering) Ltd. operations said it will invest over $80 million (47 million pounds) to make it "the global center of excellence in research and manufacture of diesel and natural gas powered electrical generators" for Cat. The investment is expected to create 155 new jobs at the company\'s facilities at Larne, Springvale (Belfast) and Monkstown, all in Northern Ireland.Mark Sweeney, managing director of FG Wilson and Caterpillar Electric Power Division\'s Global Operations Director said, "our goal is to make FG Wilson a global center of excellence for manufacturing expertise, research and development and sales and marketing within Caterpillar\'s Electric Power Division. This investment is an important step along this road."The re-investment program will expand the company\'s Engineering Center of Excellence and further development its lean manufacturing processes. It will also include expanded personnel training and development, and increased sales and marketing support to increase the company\'s market penetration… Continue reading

Terex-Demag to supply 600t crawler (2006-4-3)

German manufacturer Terex-Demag will deliver a 600t capacity CC 2800-1 crawler crane to the Kynningsrud Group, Scandanavia in August. The crane will be used for work in wind power, petro-chemical and oil-related industries.The Kynningsrud crane division is one of the Nordic region\'s major players with regards to all types of crane activity in the area. The investment represents a co-operation between the crane departments in Norway and Sweden, Kynningsrud Kran AS and Kynningsrud Kran AB respectively.The Kynningsrud Group consists of three divisions, working in crane rental, pre-cast concrete and foundations. The group\'s primary markets are in Norway and Sweden. The turnover for 2006 is expected to be approximately €85million.The crane division has 180 employees, 120 cranes, gantry cranes and hydraulic jacks, used for lifting and transportation of materials for all types of construction.Kynningsrud board member Harald Kynningsrud said,"We have been working on this investment for a long time and the time… Continue reading