Caterpillar Inc, the world's largest maker of construction and mining equipment, will buy Bucyrus International Inc for $7.6 billion to add shovels, draglines and drills to its product range. Caterpillar is expanding its mining business as coal and metals producers raise investment to meet growing demand from emerging economies. The company has already announced plans this year to invest $700 million developing trucks and shovels.
The Bucyrus acquisition would be the largest announced in the construction and mining machinery industry in the past five years.
Contact: Caterpillar Inc Website: www.cat.com