WesTrac Pty. Ltd. has agreed to pay Caterpillar Inc. $400
million for the distribution and support business formerly
operated by Bucyrus International Inc. in Western Australia,
Australian Capital Territory and New South Wales.
"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," Steve Wunning, Caterpillars resource industries
group president, said in a statement. "Through our longstanding
relationship with WesTrac, we look forward to working together
to deliver the best equipment solutions in the industry to our
"The Bucyrus product line and
large installed base are a logical addition to our current
range of Cat products and will provide us with significant
opportunities for future growth with our mining customers,"
WesTrac chief executive officer Jim Walker said.
The transaction is expected to close by June 30, at which
point about 430 former Bucyrus employees and contractors will
be working for WesTrac.