Caterpillar selling distribution business - WAOW - Newsline 9, Wausau News, Weather, Sports

Caterpillar selling distribution business

Posted:

PEORIA, Ill. (AP) -- Heavy equipment maker Caterpillar Inc. has agreed to sell off a distribution and support business to a Canadian company for $465 million.

Vancouver-based Finning International will now employ about 900 workers who used to be with Bucyrus, a Milwaukee-based mining equipment manufacturer that Caterpillar acquired last year.

The (Peoria) Journal-Star reports (http://bit.ly/y80m3j ) that Finning is the world's largest Caterpillar equipment dealer.

Finning will run sales, service and support operations in South America, Canada and the United Kingdom.

Peoria-based Caterpillar currently operates the Bucyrus mining equipment factories in South Milwaukee and Milwaukee. Its mining equipment headquarters is in Oak Creek, Wis.

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Information from: Journal Star, http://pjstar.com

(Copyright 2012 by The Associated Press. All Rights Reserved.)

APNP-01-21-12 1041CST

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