Caterpillar says Siwei acquisition still aligned with China strategy "Despite these actions we continue to believe that the Siwei acquisition is well aligned with our strategy to expand our role as a leading equipment and solutions provider for the Chinese coal mining industry. We intend to utilize Siwei roof support products and manufacturing capabilities, combined with Caterpillar's strong commitment to technical innovation and safety, to help our mining customers in China become more efficient and safer within their mines," the company said.
News For CAT From The Last 14 Days
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Caterpillar upgraded to Buy from Neutral at ISI Group ISI Group upgraded Caterpillar to Buy citing recent share weakness and year-to-date machinery sector underperformance. Price target raised to $113 from $110.