Caterpillar last week said it expects sales in China to quadruple as a percentage of its global sales by 2010 as the company builds ports, energy projects and roads. The company emphasized the point as it announced it would move its Asia Pacific headquarters from Tokyo to Beijing.
Rich Lavin, Caterpillar’s vice president of Asia Pacific manufacturing told Reuters revenues from China, currently about 2.5 percent of the company’s total sales, should reach 10 percent by 2010. The Peoria, Ill.-based manufacturer is forecasting about $41 billion in total sales this year, a total that could grow to $60 billion by 2010.
Caterpillar now operates 13 facilities on the mainland, producing construction equipment, engines and components, as well as providing financial leasing services.