Cat to acquire Indian company

Caterpillar Inc. has announced its intention to acquire all outstanding shares in the company's Indian diesel engine joint venture, Hindustan Powerplus Limited (HPL). The acquisition will include outstanding public shares, as well as those held by the company's joint venture partner, the C.K. Birla Group. HPL is a manufacturer of diesel generator sets for the Indian market and an engine component

Tim Parry

Feb. 7, 2003

Caterpillar Inc. has announced its intention to acquire all outstanding shares in the company's Indian diesel engine joint venture, Hindustan Powerplus Limited (HPL).

The acquisition will include outstanding public shares, as well as those held by the company's joint venture partner, the C.K. Birla Group.

HPL is a manufacturer of diesel generator sets for the Indian market and an engine component exporter to other Caterpillar facilities around the world. Caterpillar has managed HPL operations since 1993 as part of the joint venture.