Caterpillar Acquires China's First Foreign Remanufacturing License

Caterpillar Acquires China's First Foreign Remanufacturing License Caterpillar Inc, the US giant machinery maker, said Thursday it has obtained a remanufacturing license in China, the first of its kind received by a wholly owned foreign entity. The company and China's National Development and Reform Commission (NDRC) signed a letter of intent through which Caterpillar and NDRC will promote the development of China's remanufacturing industry. "Remanufacturing is a highly sophisticated form of recycling that takes end-of-life components and turns them into like-new products for a fraction of the cost," said Stu Levenick, Caterpillar group president, in a statement.