US-based Caterpillar Inc., acquires stake in Polyhose India (Rubber) Private Limited

US-based Caterpillar Inc., through one of its subsidiaries has acquired a significant minority interest in Chennai-based Polyhose India (Rubber) Private Limited.

leading manufacturer of hydraulic hoses in the country. With sales and revenues of more than USD 41 billion in 2006, Caterpillar is the world's leading manufacturer of construction & mining equipment, diesel & natural gas engines and industrial gas turbines.

Spread on a sprawling 12-acre plot at Sriperumpudur, Polyhose houses state of the art facility, which is one of the best in Asia. . The company has a production capacity of 4.5 million meters per annum.

“It is certainly a matter of pride for us that Caterpillar has identified Polyhose for this investment. We will be able to offer our customers international quality products. We also propose to diversify and manufacture Air Conditioning, other Automotive and Specialty Hoses. With the current boom in the Infrastructure Development we foresee Polyhose playing a huge role in this domain, and we expect to reach a turn over of 100 to 125 Million US$ in the next 3 to 5 years period.” said Mr. Y.J. Shabbir, Managing Director, Polyhose India (Rubber) Pvt.Ltd.

Caterpillar has agreed to purchase a large portion of Polyhose products and production, which are distributed worldwide. Caterpillar through its subsidiary Rapisarda Industries S.r.l., which has over 90 years experience in the industry, will provide technical process and product support along with distribution. The company expects to triple its capacity over the next five years.

About Polyhose India (Rubber) Pvt Ltd

Polyhose India Pvt Ltd is an ISO 9001:2000 accredited Company and is a manufacturer's of High Pressure Thermoplastic, Industrial and PVC hoses of International Standards with One of the most modern manufacturing plant in South East Asia and State of the art computerized manufacturing line from Europe.

About Caterpillar

Caterpillar is a technology leader and the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. For more than 80 years, Caterpillar Inc. has been building the world's infrastructure and, in partnership with its worldwide dealer network, is driving positive and sustainable change on every continent. In response to the Asian Tsunami disaster, Caterpillar and its dealers provided machines, money and resources for relief and recovery efforts. Caterpillar is also proud to be the lead corporate donor in The Nature Conservancy's Great Rivers Partnership project