Cat ties up Bucyrus deal
- Publishing Date
- 13 Jul 2011 10:58am GMT
- Author
- Mining Magazine
Loading & Hauling Drilling & Blasting
Caterpillar completed of its acquisition of Bucyrus on July 8, 2011. The deal, which was announced in November 2010, was valued at approximately US$8.8 billion, including net debt. Caterpillar did not issue equity to help fund the transaction, but funded the acquisition with cash from its balance sheet and debt.
“This acquisition is all about growth and unprecedented opportunities,” said Caterpillar Group President Steve Wunning. “Combined with our aggressive product development and capacity expansion plans, it will position Caterpillar to offer a broad range of surface and underground mining products and solutions to our customers.”
The Caterpillar Global Mining headquarters will be in Oak Creek, Wisconsin and will include three mining divisions.
“This acquisition is all about growth and unprecedented opportunities,” said Caterpillar Group President Steve Wunning. “Combined with our aggressive product development and capacity expansion plans, it will position Caterpillar to offer a broad range of surface and underground mining products and solutions to our customers.”
The Caterpillar Global Mining headquarters will be in Oak Creek, Wisconsin and will include three mining divisions.
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