HONG KONG – Caterpillar Inc. (NYSE: CAT) (“Caterpillar”) and ERA Mining
Machinery Limited (HKSE: 8043) (“ERA”) jointly announced today a pre-conditional
voluntary offer by Caterpillar, through a wholly owned subsidiary, for all of the issued
shares of ERA (the “Shares”).
ERA primarily designs, manufactures, sells and supports underground coal
mining equipment in mainland China through its wholly owned subsidiary Zhengzhou
Siwei Mechanical & Electrical Equipment Manufacturing Co., Ltd., commonly known as
As part of Caterpillar’s 2015 strategy, the company has identified the mining
industry and improved support of its customers as one of Caterpillar’s key imperatives.
“Our announcement today underscores Caterpillar’s long-term commitment to
continue to invest in China in order to support our growing base of Chinese customers,”
said Steve Wunning, Caterpillar group president with responsibility for Resource
Industries. “We intend to build on Siwei’s strong reputation and relationships in China,
further investing in its mining roof support business and operations, while utilizing
Caterpillar’s global reach and organization to help bring Siwei’s products to more
customers outside of China,” Wunning said.
Commented ERA Chairman Emory Williams, “Caterpillar has been an important
contributor to improving equipment, safety and mining practices around the world. We
believe they will continue to make a substantial ongoing contribution to the industry in
“Caterpillar has developed a reputation for its community involvement and
contributions to society in the communities where it operates and for the strong
relationships it has with its employees,” said Siwei Chairman and Chief Executive
Officer (CEO) Wang Fu.
i sell out at .8 already,i dont wanna hold long long time again....
however, 8043 stock price is make me some disappointed,i buy it at .64 and hold it to suspend
maybe the contact agreement is track....it hv a risk to fail...anyways hope u all win ^ ^