Caterpillar To Buyout Japanese JV Mitsubishi Heavy Industries Post Date: 2012-03-01 Caterpillar, Inc. (CAT), the world's largest construction and mining equipment manufacturer, agreed Wednesday to buyout the complete stake from its Japanese joint-venture partner Mitsubishi Heavy Industries Ltd. at about 36.4 billion Japanese yen ($450 million). The deal is expected to be completed in the second quarter of 2012.

The action is in line with Caterpillar's enterprise strategy of rapidly expanding emerging markets of Asia and the Commonwealth of Independent States.

The two companies formed a joint-venture company known as Caterpillar Mitsubishi more than 45 years ago, and expanded it in 1987 to be renamed as Shin Caterpillar Mitsubishi (SCM).

Caterpillar became a majority owner in 2008 after completing a first phase of share redemption, and it was then renamed again as Caterpillar Japan Ltd.. Following the completion of the second phase, Caterpillar Japan will become a 100 percent owned subsidiary of Caterpillar.

Source:cmbol.com