Caterpillar Inc announced plans today to expand its manufacturing presence in China with a new facility to produce four models of mini hydraulic excavators.

To meet growing customer demand in China the company will produce models in the under 8-ton range at the new facility in Wujiang. The facility will be part of Caterpillar's Building Construction Products (BCP) Division, which has manufacturing operations in the United States, Japan, Brazil and the United Kingdom.

Camco International Limited, a global developer of emission reduction and clean energy projects, has announced a joint venture agreement with Khazanah Nasional, the investment holding arm of the Government of Malaysia.

Southwest Airlines is to acquire AirTran Holdings, Inc., the parent company of AirTran Airways, for $1.4 billion in a combination of cash and shares.

Each share of AirTran common stock will be exchanged for $3.75 in cash and 0.321 shares of Southwest Airlines' common stock, subject to certain adjustments. Including the existing AirTran net indebtedness and capitalized aircraft operating leases, the transaction value is approximately $3.4 billion.

Anglo-Dutch consumer goods group Unilever has agreed to buy US-based hair care group Alberto Culver Co. for $3.7 billion in cash to boost its personal care business.

The acquisition will bring brands including V05, TRESemmé and Nexxus, making Unilever the world leader in hair conditioning, the second largest in shampoo, and the third largest in styling.

The global research and advisory firm Cleantech Group has released its 2010 US Smart Grid Vendor Ecosystem Report, which explores the key market dynamics shaping the emerging smart grid landscape.

Commissioned and funded by the Department of Energy, the study highlights $2.75 billion in annual product sales in three key smart grid categories: advanced metering infrastructure (AMI), demand response, and distribution grid management.

Shares in Rockhopper Exploration jumped 7.8 per cent today following an update on flow tests at the potentially world class Sea Lion field in the North Falklands basin.

The UK-based company said that during an 18 hour test, the well flowed for sustained periods at over 2,000 barrels per day.

The group added that had it not been for several constraints on the well, it could have flowed at around 4,000 barrels per day.

With more optimal location, significantly higher rates could be achieved from future production wells, the company said.

DuPont is to form a joint venture with Dutch life sciences and materials sciences company Royal DSM to develop, manufacture and commercialize advanced surgical biomedical materials.

DuPont and DSM will each own a 50 percent interest in the venture, to be called Actamax Surgical Materials LLC.

The world's biggest offshore wind farm off the UK’s Kent coast is being officially opened later today.

Built at a cost of £800 million, the 100 turbines will be able to produce 300 megawatts of electricity—enough energy per year to power the equivalent of more than 200,000 homes. The 380 foot-tall turbines are spread over an area of more than 35 square kilometres.

Up to 341 turbines will be installed at the wind farm over a four-year period.

The Clorox Company is to sell its global auto care business, including the brands Armor All and STP, to a private equity firm for $780 million.

Avista Capital Partners, with offices in New York and Houston and holdings in energy, health and media, will acquire two auto care manufacturing facilities from Clorox, one in Painesville, Ohio with 70 employees, and one in Wales, in the UK, with 24. All employees will transfer to the buyer.