Caterpillar Expands Mining Operations

Caterpiller Inc. has positioned itself as the leading global supplier of mining equipment with the acquisition of Bucyrus International.

Heavy equipment maker Caterpillar Inc. is set to complete the largest deal in its history, saying it would buy Bucyrus International Inc. for $7.6 billion to expand in mining.

“For several years, mining customers have been asking us to expand our range of products and services to better serve their increasingly complex requirements,” Oberhelman said. “This announcement says to those customers, we heard you loud and clear. It is a strong statement about our belief in the bright future of the mining industry.”

The closing of the transaction is subject to regulatory approvals, customary closing conditions and approval by Bucyrus stockholders. At that time, Caterpillar Group President Steve Wunning will have executive office accountability for Bucyrus, along with his current responsibilities for the company’s mining business.

“Even today at mine sites around the world, our customers are using Bucyrus shovels to load Caterpillar mining trucks,” Wunning said. “This combination, as well as the significant expansion in products and facility capacity already announced, gives us the opportunity to expand the range of surface and underground mining products and solutions offered to customers by Caterpillar and its dealer network.”