PEORIA (dpa-AFX) - Caterpillar Inc. (CAT) announced that the Industrial Division of Sime Darby Berhad has acquired a portion of former Bucyrus distribution business, valued at approximately $360 million.
The transaction encompasses the Sime Darby Industrial Cat dealerships operated by Hastings Deering in Queensland and the Northern Territory of Australia, Papua New Guinea and New Caledonia.
Caterpillar said the transition to Hastings Deering, a Cat dealer and Sime Darby Industrial company, to provide unmatched support to mining customers.
Following Caterpillar's acquisition of Bucyrus, the company made two key strategic decisions; utilize the Cat brand, and dealers would be best suited to sell and support former Bucyrus mining products.
Caterpillar also intends to start selling former Bucyrus mining products through Sime Darby's other Cat dealerships.
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