GLOBAL BUSINESS NOTES dp
Cat To Buy Bucyrus … LeeBoy To
Unveil New Line … New AGCO Acquiring
Rest Of Laverda, Has New JV …
Caterpillar Inc. and Bucyrus International, South Milwau- kee, Wis., have announced an
agreement under which Caterpillar will
acquire Bucyrus in a transaction valued
at approximately $8.6 billion (including
net debt), including $7.6 billion in cash.
The deal, subject to regulatory and
Bucyrus shareholder approval, is expected to close in mid-2011.
Caterpillar said it intends to locate
its mining business at Bucyrus’ current
headquarters in South Milwaukee, and
maintain the Bucyrus brand for the principal Bucyrus legacy products. When
the sale closes, Caterpillar Group President Steve Wunning will have executive
office accountability for Bucyrus, along
with his current responsibilities for the
company’s mining business.
More on this mining market mega-deal can be found on our website, Diesel
Progress Online at www.dieselprogress.
com, and an analysis of the deal will be
featured in the January issue of Diesel
Progress North American.
Commercial asphalt paving equipment manufacturer LB Performance
Paving Products, a division of LeeBoy,
has announced a line of Blaw-Knox
branded equipment. In collaboration
with Volvo Construction Equipment,
LeeBoy has licensed the Blaw-Knox
brand in the commercial paving markets
and will be responsible for all engineering, design, manufacturing, marketing
and support of the Blaw-Knox commercial paving products.
As such, LB Performance Paving
Products is set to launch a new line of
commercial pavers and road wideners
based on traditional Blaw-Knox models
at ConExpo-Con/Agg show, Las Vegas,
Nev., in March. All the products are be-
ing produced at the LeeBoy manufactur-
ing facility in Lincolnton, N.C., and will be
distributed by Volvo Construction Equip-
ment Roadbuilding distributors. The ini-
tial product launch consists of three road
wideners and two rubber-tired pavers.
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