Cat's Oberhelman Expects New Rival from China

June 30, 2011

Caterpillar expects a new rival in the heavy-machinery sector to come out of China "in the next few years," said Doug Oberhelman, the company's chairman and CEO.

"There are all these companies [in China], and there's consolidation happening, and you just know that one or two will emerge as a serious rival," he said in an interview Wednesday at one of its factories in southern Belgium.

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Source: Wall Street Journal