March 31, 2008 -- Caterpillar Inc.'s capital expenditure in China will triple over the next three years compared with the past three years, Chief Executive Jim Owens said Monday. The heavy equipment maker will invest about $1 billion in emerging markets, mostly in China.
Caterpillar may increase prices for its equipment globally midyear because of rising steel costs and currency fluctuations, even though it usually avoids midyear price adjustments, and since the company's 2008 steel needs have been secured under long-term contracts, it won’t be an issue until 2009.
Abstracted from Dow Jones International News
