Yuchai buys a 49% stake in Yuchai Remanufactured by Caterpillar
Yuchai International Co., Ltd. recently announced that the company’s Guangxi Yuchai Machinery Co., Ltd. (GYMCL) has reached an agreement with its partner Caterpillar (China) Investment Co., Ltd. to buy out the latter’s joint venture, Yuchai again. 49% of the shares in Manufacturing Industry (Suzhou) Co., Ltd. achieve full control.
According to the agreement, Yuchai remanufacturing will become a wholly-owned subsidiary of Guangxi Yuchai, but Yuchai and Caterpillar did not disclose the price of the transaction. This transaction still needs the approval of the Suzhou Municipal Bureau of Commerce.
Yuchai Remanufacturing Company is a joint venture between Guangxi Yuchai and Caterpillar in April 2010. It was put into operation in 2011 and mainly provides remanufacturing of diesel engines and components produced by Guangxi Yuchai and Caterpillar. service.
According to the data, remanufacturing is a high-end recycling method. Through remediation technology and sound manufacturing specifications, the remanufactured parts will be converted to meet the new product status. In the global remanufacturing technology field, Caterpillar maintains its leading position and recycles over 100 million pounds of scrap iron each year, mainly for remanufacturing engines, transmissions and hydraulic components.
After the above transaction is completed, Caterpillar will continue to provide technical support to Yuchai Remanufacturing Corp. Guangxi Yuchai and Caterpillar will also maintain a mutually beneficial and cooperative relationship.
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