Complex sentence: XCMG formed a joint-venture with Caterpillar Inc. in 1995, Caterpillar Xuzhou Ltd., with the companies subsequently jointly building a 170,000 square metre excavator plant in Xuzhou.
Split into simpler sentences: XCMG formed a joint-venture with Caterpillar Inc. in 1995. The joint venture, Caterpillar Xuzhou Ltd., built a 170,000 square meter excavator plant in Xuzhou.