PRESS RELEASE

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Caterpillar CEO Praises Potential of Belt and Road Initiative

Oct. 11, 2017 (EIRNS)—In an interview with China Daily published yesterday, the CEO of Caterpillar, Inc., Jim Umpleby, offered ample praise for China’s economic policies, its goal of becoming a manufacturing power, and its Belt and Road Initiative (BRI). The multinational expects to participate in BRI projects, Umpleby said, as customers using Caterpillar’s equipment,

"from construction and mining machinery to engines to power systems, and electro-diesel locomotive[s], support the development of infrastructure, energy and power in China as they have done in the past."

Umpleby emphasized that the BRI will contribute to economic development, improve living standards and accelerate industrialization in the countries along the Belt and Road. Since its emphasis is on infrastructure connectivity, he said, this represents a long-term opportunity for Caterpillar and its Chinese customers.

"In collaboration with them, our machines have built roads, highways, dams, portals, and city infrastructure from Africa to Asia, and from the Middle East to South America. We are well positioned and enthusiastic in our support of our Chinese customers to succeed in Belt and Road projects."