CAT Sells Part of Bucyrus Business to Canadian Dealer
Published July 24, 2012
Categories: Mergers & Acquisitions
Caterpillar and Hewitt Equipment Limited announced that Caterpillar Global Mining and Hewitt have signed an agreement for Hewitt and its subsidiary, Atlantic Tractors & Equipment, to acquire the Bucyrus equipment distribution and support business in the province of Quebec, Western Labrador and the Maritimes.
“Cat dealers play a pivotal role in helping us build and maintain our world-class system of distribution and product support. This is critical to providing value and solutions for Caterpillar mining customers, and Hewitt will be helping us achieve that,” said Steve Wunning, Caterpillar group president with responsibility for Resource Industries.
Caterpillar has announced similar transactions with other dealers over the last several months. Caterpillar continues to hold discussions with other Cat dealers that have mining activity in their territories and will continue to operate the former Bucyrus distribution business until the transitions have occurred in a given territory.
Subject to customary closing conditions, it is anticipated that the transaction will close on August 1.