February 8, 2008 -- Caterpillar, the world's largest maker of bulldozers and excavators, has taken over Shandong SEM Machinery Co.

According to a report in American Machinist, the purpose of the acquisition was to meet growing customer demand China. According to the magazine, the takeover has already received approval from Chinese regulators. Caterpillar first took an interest in the loading machine maker in 2005, when it bought a 40 percent stake. Shandong SEM will now be a wholly-owned subsidiary of Caterpillar.