Caterpillar announced that the industrial division of Sime Darby Berhad has acquired a portion of the former Bucyrus distribution business, which was included in Caterpillar’s purchase of Bucyrus.

The transaction, valued at approximately $360 million encompasses the Sime Darby Industrial Cat dealerships operated by Hastings Deering in Queensland and the Northern Territory of Australia, Papua New Guinea and New Caledonia.

This deal marks the first of several that are expected to transition the product distribution and support of former Bucyrus machinery to Cat dealers that support mining customers around the world. While not part of the transaction, Caterpillar also intends to start selling former Bucyrus mining products through Sime Darby’s other Cat dealerships.

Following Caterpillar’s acquisition of Bucyrus, the company made two key strategic decisions; utilize the Cat brand, and dealers would be best suited to sell and support former Bucyrus mining products.

Caterpillar said it is currently holding discussions with other Cat dealers that have mining activity in their territories. Caterpillar will continue to operate the former Bucyrus distribution business in a given dealer’s territory until the transitions have occurred.

“Cat dealers have a proven track record in helping customers realize the highest productivity and lowest owning and operating costs, and many mining customers have told us how important the dealers are to their success,” said Steve Wunning, Caterpillar group president with responsibility for Resource Industries. “Wherever there is mining, Caterpillar and our dealers will be there to serve our mining customers.”