PEORIA, Ill -- Caterpillar Inc. announced Wednesday that they have reached an agreement with WesTrac Pty Limited, a subsidiary of Seven Group Holdings Limited, to acquire from Caterpillar the distribution business fomerly operated by Bucyrus in Australia.
"We are pleased to announce this agreement with WesTrac today as we continue to make excellent progress in the transition of the product distribution and support of former Bucyrus machinery to Cat dealers around the world," said Steve Wunning, Caterpillar group president with respoinsibility for Resource Industries.
Following completion of the acquisiton, 430 fomrer Bucyrus employees and contractors are expected to transition to WesTrac. The transaction is expected to close by June 30, 2012.
Discussions are also taking place between Cat and WesTrac in regards to former Bucyrus holdings in North Eastern China. Cat will continue to operate the former Bucyrus facilities until a transaction can be finalized.