Cargo Business Newswire

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Monday, January 23, 2012

Caterpillar to sell distribution unit to Canadian firm for $465 mil

Caterpillar Inc. has reportedly agreed to sell its distribution and support business to Vancouver, B.C. -based Finning International for $465 million.

Finning is the largest dealer in the world of CAT equipment, and will take over the sales, service and support operations of the distribution business from Milwaukee-based Bucyrus International Inc., a mining manufacturer.

The Peoria Journal Star reports that approximately 900 Bucyrus employees will move over to Finning.

CAT operates Bucyrus mining equipment factories in Milwaukee.

For the Peoria Journal Star story: www.pjstar.com