The 2020 Mid-Year Economic Update_long

Caterpillar Agrees to Buy South Korean Seal Manufacturer

Acquisition of JCS Co., Ltd., will provide Caterpillar's first factory in South Korea.

Caterpillar Inc. (NYSE: CAT), Peoria, IL, has agreed to acquire seal manufacturer JCS Co., Ltd., a subsidiary of South Korea-based manufacturer Jinsung T.E.C. Co. Jinsung T.E.C. specializes in producing undercarriage components for earthmoving and other off-road machinery.

Currently, Jinsung supplies Caterpillar with rollers, idlers and metal-faced seals used on a wide range of Caterpillar machines. The acquisition of JCS will provide Caterpillar proprietary technology to competitively produce highly engineered seals that will improve machine undercarriage reliability and durability.

“In recent years, Caterpillar has made significant investments in its emerging market operations in Asia Pacific to support a growing base of customers in the region,” said David Bozeman, Caterpillar vice president with responsibility for undercarriage production. “This strategic acquisition will improve Caterpillar’s supply chain and component capacity in support of Caterpillar’s long-term machine capacity expansion plans in Asia.”

The JCS seal manufacturing facility will be the first factory for Caterpillar in South Korea. It will complement Caterpillar’s existing footprint in Asia Pacific, which includes manufacturing facilities in China, India, Indonesia and Australia.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.
Social Media Auto Publish Powered By : XYZScripts.com