Caterpillar And ShaanXi Fast Gear To Produce On-Highway Transmissions in China
2011-04-25 Source：www.chinabuses.org
www.chinabuses.org: Caterpillar Inc. and Shaanxi Fast Gear Co., Ltd. have signed an agreement to form a joint venture that will manufacture drivetrain systems and other complex components for Caterpillar machinery and produce a full line of on-highway automatic transmissions for trucks and buses/coaches.
Caterpillar would be a 45-percent stakeholder in the joint venture; Fast Gear, which is partially owned by Weichai Power Co., Ltd. would have 51 percent, and Shaanxi Fast Auto Drive Group Co., Ltd. would hold a 4-percent stake. The joint venture will build upon the existing Cat CX series on-highway transmission product line to expand globally.
Pending appropriate regulatory approvals in China, it will provide CX series on-highway transmissions to both Caterpillar and Fast Gear for global distribution.
Fast Gear, which is partially owned by Weichai Power Co., Ltd., is the largest Heavy Duty manual transmission manufacturer and supplier in China. With total assets of over 10 billion yuan, it has five production facilities, which are located in Xi'an, Baoji and Xianyang. It has a production capacity to produce one million transmissions annually. In 2010, the Fast Group surpassed 12.6 billion yuan in both annual industrial output value and sales, being the first one in the Chinese Gear Industry to reach this level, the company states.
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