Caterpillar’s revelation it found fake accounts at a just-acquired Chinese firm which will cost it hundreds of millions of dollars is a cautionary tale for those looking to enter the hugely promising market.
The US equipment giant said this month it would take a US$580 million charge after uncovering “accounting misconduct” at Siwei Mechanical and Electrical Manufacturing, which it bought last year for at least US$650 million.
via Business feed http://www.scmp.com/business/companies/article/1137136/caterpillars-china-woes-warn-foreign-investors
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