Caterpillar Inc (CAT.N) has begun exporting Chinese-made machinery to the Middle East and Africa, part of a plan to offset a dip in China's economic growth, a top official at the company said in an interview.
The move by the world's largest maker of construction equipment is only temporary and the company still expects China to remain its fastest growth market, Richard Lavin, who oversees Caterpillar's business in China, told Reuters.
Lavin declined to name specific countries in the Middle East and Africa where the Chinese-made goods are headed, or list the amount of product, but noted front-end loaders and excavators comprise the bulk of exports.
"The global economic situation, especially the situation in China, has presented us a short-term opportunity to serve very specific markets with some supplies over the last half of 2012," he said. "But that is not part of overall strategy for China."
Caterpillar exporting China-made goods | Reuters
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