Caterpillar says China capex to triple in 3 years
BEIJING, March 31 (Reuters) - Caterpillar Inc (CAT.N: Quotazione), the world's largest maker of construction and mining equipment, said on Monday it expected its capital expenditure to triple over the next three years.
Jim Owens, chief executive and chairman, told reporters that the lion's share of $1 billion earmarked for emerging market capital expenditure would be spent in China.
"It is a huge committment to China," he said. ($=7.02 yuan) (Reporting by Kirby Chien; Editing by Tomasz Janowski)
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