Caterpillar, Navistar eye China truck JV

Caterpillar Inc and Navistar International Corp are in talks with Anhui Jianghuai Automobile Co to set up a truck venture in the country, a source familiar with the matter said on Friday.

"The parties have basically agreed on the framework for a 50-50 venture to make heavy trucks and engines, but have yet to iron out the details," the source said.

A Jianghuai spokesman declined to comment, while Caterpillar and Navistar executives could not be reached.