A new era for Caterpillar in China

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Caterpillar, a company perhaps best known for its earthmoving equipment,has concluded a US$886 million deal to buy ERA Mining Machinery, a Hong Kong-listed Chinese manufacturer of coal mining equipment. The offer, which values ERA between US$578 million and US$885 million, was announced on 11 November. It remains subject to acceptance by ERA’s shareholders and to approval by the Ministry of Commerce.

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