November 20, 2006 • Caterpillar, Inc., Peoria, Ill., announced that it has completed the acquisition of a former joint venture engine operation in Mathagondapalli, Hosur, India. Originally formed in 1988 as Hindustan PowerPlus Ltd., the joint venture is now a wholly owned subsidiary of Caterpillar and has been renamed Caterpillar Power India Private Ltd. Jim Owens, president and chief executive officer of Caterpillar, attended the renaming ceremony.
“Completing this transaction will help Team Caterpillar better serve our customers who are involved in the remarkable progress that is taking place in India in the areas of infrastructure improvements and energy development,” Owens said. “The acquisition also aligns this operation more closely with the other power systems groups that are part of the global Caterpillar family.”
Caterpillar Power India Private Ltd. produces heavy-duty diesel engines for machines and generator sets and produces engine components. A large majority of the products manufactured at the facility are sold in the domestic market in India.
“This engine facility is an important part of our strategy as we continue to grow our business in Asia,” said Rich Lavin, Caterpillar vice president with responsibility for operations in the Asia Pacific region.
