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APR 7

Caterpillar digs into China

Crain's Chicago Business, April 7, 2008 — It took Caterpillar Inc. three decades to reach $1.5 billion in annual sales in China. The Peoria-based construction-equipment maker now aims to more than double that in the next three years.

With the U.S. construction business tanking, Caterpillar needs to capitalize on a building boom in China. Ramping up sales in the world's fastest-growing construction market could help offset slumping demand in the United States and keep Cat on track to hit its goal of boosting companywide revenue 33% by 2010.

Category: Brand Strategy
Tags: Caterpillar, China, Market Entry
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