North / South America
Caterpillar to Sell Part of Bucyrus Distribution Business to Hewitt Equipment Limited
Jul, 24 2012
Transition to Hewitt to provide broad and unmatched support to mining customers
(PEORIA, Illinois) -- Caterpillar Inc. (NYSE: CAT) and Hewitt Equipment Limited (Hewitt) today announced that Caterpillar Global Mining LLC and Hewitt Equipment Limited have signed an agreement for Hewitt and its subsidiary, Atlantic Tractors & Equipment Ltd. (Atlantic), to acquire the Bucyrus equipment distribution and support business in the province of Quebec, Western Labrador and the Maritimes.
“Cat dealers play a pivotal role in helping us build and maintain our world-class system of distribution and product support. This is critical to providing value and solutions for Caterpillar mining customers, and Hewitt will be helping us achieve that,” said Steve Wunning, Caterpillar group president with responsibility for Resource Industries.
"We are very enthusiastic about this agreement, under which we will provide an even broader product offering to our valued mining customers,” said Jim Hewitt, president and chief executive officer of Hewitt. “We look forward to collaborating with Caterpillar and with our customers as we work together to build on the existing Bucyrus support resources in our service territory. We are already making significant investments in facilities and in training to further strengthen that support capability. Further, as the transition takes place, we will be investing heavily in parts and component inventories to help ensure our customers attain optimal availability of their Cat and Bucyrus equipment. We also look forward to welcoming the former Bucyrus employees who will be joining the Hewitt Team.”
Subject to customary closing conditions, it is anticipated that the transaction will close on August 1.
Caterpillar has announced similar transactions with other dealers over the last several months. Caterpillar continues to hold discussions with other Cat dealers that have mining activity in their territories and will continue to operate the former Bucyrus distribution business until the transitions have occurred in a given territory.
For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2011 sales and revenues of $60.138 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at: http://www.caterpillar.com.
Hewitt Equipment Limited is the authorized Cat Dealer for the province of Quebec and Western Labrador, and through its subsidiary, Atlantic Tractors & Equipment Ltd. is also the Cat Dealer for the Maritime provinces. With headquarters in Pointe-Claire and 45 branches, the Hewitt Group sells, rents and services the full line of Caterpillar products through five divisions: Heavy Equipment, Material Handling, Energy, Truck and Agricultural.
Hewitt’s other subsidiaries are: Hewitt Material Handling Inc. (Ontario), Hewitt Rentals Inc. (Quebec, Western Labrador and Maritimes), Montréal Hydraulique 04 Inc. and SITECH Atlantic Ltd. (Maritimes). More information is available at: http://www.hewitt.ca/en/ and http://www.atlcat.ca/.
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