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Article updated: 1/18/2013 5:41 PM

Caterpillar taking charge for China mismanagement

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A Caterpillar excavator, front, operates on a construction site in Tokyo, Japan.

Associated Press/Jan. 8, 2013

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Caterpillar Inc. said Friday that it found deliberate "accounting misconduct" at a recently acquired company in China. The U.S. based construction and mining equipment company has removed several managers at the company and will take a non-cash $580 million charge in the fourth quarter tied to the misconduct.
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