Caterpillar acquires S. Korean manufacturer

[December 01, 2009]  PEORIA (AP) -- Caterpillar plans to buy a subsidiary of a South Korean manufacturer of components for earthmoving and other machinery.

The world's largest maker of mining and construction equipment says it will acquire JCS Co. Ltd., a subsidiary of Jinsung T.E.C. Co. Terms were not disclosed.

The acquisition builds on a relationship between Caterpillar Inc., based in Peoria, and Jinsung T.E.C., which supplies Caterpillar with equipment for its machines.

The transaction will give Caterpillar its first factory in South Korea. Caterpillar already has plants in China, India, Indonesia and Australia.

[Associated Press]

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