Remanufacturing implies the recycling of end of life components and transforming them into almost new products. This process is done with state of the art technology, and thanks to the fact that it’s both cost-effective and environmentally friendly, this is one of the fastest growing industries. The new created joint venture will remanufacture diesel engines and components. The Caterpillar-Yuchai joint venture will have a registered capital of $20,000,000.
"This joint venture will allow us to leverage Caterpillar's remanufacturing technology to provide high quality, low cost products for end-user customers. Our leading market position, broad product line of diesel engines, manufacturing expertise and large service network provide a solid foundation to grow the new joint venture. We also share a vision of enhancing sustainability and improving the environment while providing innovative cost-effective solutions to our customers. This is a win-win for Caterpillar, China Yuchai, our customers and our environment," Mr. Boo Guan Saw, President of China Yuchai, said.
"This new cooperation further demonstrates our commitment to providing advanced services to meet the needs of our customers. It is another example of how China Yuchai distinguishes itself through adding innovative technology and services," Mr. Saw concluded.