American Caterpillar, world leader for building equipment manufacturing will not build truck producing plant in Novosibirsk. The project of the plant was presented to the local government in September 2008. Mr Vasiliy Yurchenko vice governor of Novosibirsk region said that “such a project did not exist”.

Mr. Yurchenko said that “The company decided to dismiss 20 thousand staff members form 110 thousand. This means that Caterpillar will not implement any investment projects.” According to his words, at current import duties equipment import is more profitable than domestic production.

Caterpillar announced its intention to start the plant construction in 2009. "Sibselmash" plant was noticed as the ground for the construction.

(Sourced from MetalTorg)