Caterpillar acquires Bucyrus International

Caterpillar Inc. and Bucyrus International, Inc. announced they have entered into an agreement under which Caterpillar will acquire Bucyrus International in a transaction valued at approximately 8.6 billion US$ (including net debt). The acquisition is based on Caterpillar’s key strategic imperative to expand its leadership in the mining equipment industry, and positions Caterpillar to capitalize on the robust long-term outlook for commodities driven by the trend of rapid growth in emerging markets which are improving infrastructure and rapidly developing urban areas. 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.

 

Caterpillar Inc., Peoria, Illinois (USA),

Tel.: +1 309 675-1000, www.cat.com

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