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Caterpillar to Build Excavators in Russia
Caterpillar intends to build an assembly plant for excavators with a capacity of 2000 machines per year in Leningrad Region. The estimated cost of the project is €20 million. The new plant will be built at the company's facilities in the city of Tosno, where a 41-ha. plot has been reserved for it. Those facilities opened in 2001 and may be capable of producing some of the parts for the excavators locally.
Caterpillar is the world leader in the manufacture of construction and mining equipment, engines and industrial gas turbines. Its proceeds in 2007 were $45 billion and net profit $3.54 billion. It sold 364 excavators in Russia in 2006, with 52-percent sale's growth. Volvo announced plans to begin assembling excavators in Russia earlier this month. The Swedish company plans to make 1000 excavators per year.
Excavator sales are increasing in Russia by 25-30 percent annually. That market is thought to be worth about €500 million with a volume of 5000 machines. More than half the market is taken up by imports. Hitachi is the top seller, with 40 percent of the market. Analysts say that Caterpillar may face a shortage of personnel in Tosno once the new facility begins operations.
www.kommersant.com
All the Article in Russian as of Mar. 13, 2008
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