Cat acquires Bucyrus for $8.6 billion
Tina Grady Barbaccia | November 15, 2010
Caterpillar Inc. has agreed to acquire Bucyrus International Inc. for $8.6 billion, including net debt.
The acquisition is part of Cat’s “key strategic imperative to expand its leadership in the mining equipment industry.”
Caterpillar says the acquisition will also help it “capitalize on the robust long-term outlook for commodities” that’s being driven by rapid growth in emerging markets that are improving infrastructure, rapidly developing urban areas and industrializing their economies.
The transaction is expected to close in mid-2011. Caterpillar intends to
locate its mining business headquarters in South Milwaukee, Wisconsin, where Bucyrus
headquarters is currently located, and maintain the Bucyrus brand for the principal
Bucyrus legacy products.
MORE FROM eRoadPro Newsletter
- NJDOT worker faces 10 years in prison for stealing1093 Views
- Highway Trust Fund 2014: Timeline of Events693 Views
- Firearms to be used for road construction594 Views
- POLL: Majority of Americans would rather pay tolls than taxes559 Views
- VIDEO: Worker dangles from excavator hammer 100 feet up394 Views