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Finning is paying Cat US $465m to take over the Bucyrus dealerships in the UK, Ireland, Western Canada and parts of South America. The distribution and support business acquired by Finning has current annual revenues of about US $600m.
For Finning it means that it can now offer UK customers Bucyrus mining equipment and takeover servicing the installed base.
Cat acquired the mining machinery manufacturer Bucyrus last year and has since been looking to offload the distribution arm of the business, region by region.
“We’re making good progress as we transition the product distribution and support of former Bucyrus machinery to Cat dealers around the world,” said Steve Wunning, Caterpillar group president with responsibility for Resource Industries.
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