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Tuesday, June 1, 2010 Top Story CAT invests $820 mil in rail Caterpillar agreed to acquire a locomotive manufacturer for $820 million in cash from a pair of private-equity investors as the world's largest heavy-equipment maker looks to beef up its railroad business. Caterpillar's target this time is Electro-Motive Diesel, which, as its name would suggest, specializes in building electric-diesel locomotives. The company had revenue of $1.8 billion in 2009, according to Caterpillar, which announced the purchase Tuesday in a filing with the Securities and Exchange Commission. The deal, which requires regulatory approval, isn't expected to close until the end of 2010. The sellers, Berkshire Partners and Greenbriar Equity Group, acquired EMD from General Motors in 2005 for an undisclosed sum. Since 2006, Caterpillar has invested $2 billion in the rail industry, including its purchase of Progress Rail. Like Warren Buffett, whose Berkshire Hathaway holding company closed its acquisition of the freight line Burlington Northern Santa Fe earlier this year, Caterpillar clearly views railroads as a smart play. -The Street For the full story: http://www.thestreet.com/story/10770806/1/caterpillar-makes-820m-railroad-bet.html?cm_ven=GOOGLEFI More Newswire stories “Greek Disease” and service sector dip impact credit index Canada’s top port and railroad announce supply chain agreement NAFTA surface transport trade up 37 percent in March Recession blues: Where will funds for Bayonne Bridge fix come from? Today's Cargo News Archives	Click to browse past stories on these topics: Logistics Ports & Infrastructure Economic Outlook Environmental Impact Technology
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Top Story

CAT invests $820 mil in rail