Heavy machinery maker Caterpillar Inc. said it is moving its Asia Pacific headquarters to Beijing from Tokyo.

The move follows similar moves by other companies such as International Business Machines Corp. that are positioning themselves to take advantage of the mainland's fast growing economy.

Vice President Rich Lavin, who is responsible for manufacturing operations in Asia Pacific, will relocate from Tokyo, Caterpillar in a statement. "China is clearly a key element of our future strategy," said Caterpillar.

Caterpillar's Asia Pacific Marketing Division headquarters will remain based in Singapore, it said. The company first opened an office in Beijing in 1978 and now operates 13 facilities on the mainland.

IBM is moving both its Asia Pacific office and global procurement operations to China this year.

Source:佚名