Altamont Press Discussion Board :: Discussion :: Caterpillar agrees to buy EMD

Caterpillar agrees to buy EMD

Author: Graham Buxton

Date: 06-01-2010 - 13:43

Quote:
Reuters
Caterpillar Inc (CAT.N) agreed to buy a U.S. maker of railroad locomotives on Tuesday for $820 million in cash, expanding its rail business from service into engine manufacturing.
Deals

The world's largest maker of heavy equipment said it was buying Electro-Motive Diesel, which last year generated $1.8 billion in revenue, from private equity firms Berkshire Partners LLC and Greenbriar Equity Group LLC.

EMD, which General Motors GM.UL spun-off in 2005, will be part of Caterpillar's Progress Rail operation and will compete more directly with General Electric Co (GE.N), another major U.S. maker of locomotives.

The acquisition, the latest in a string of rail-related deals for Peoria, Illinois-based Caterpillar, is expected to close by the year's end.

[www.reuters.com]

FYI, "Berkshire Partners LLC " is not related to Berkshire Hathaway (Warren Buffet).

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Subject	Written By	Date/Time (PST)
Caterpillar agrees to buy EMD	Graham Buxton	06-01-2010 - 13:43
Re: Caterpillar agrees to buy EMD	Freericks	06-01-2010 - 13:55
Re: Caterpillar agrees to buy EMD	SP5103	06-01-2010 - 14:09
Re: Caterpillar agrees to buy EMD	smitty195	06-01-2010 - 19:26
Re: Caterpillar agrees to buy EMD	Snuffy	06-02-2010 - 20:55
Re: Caterpillar agrees to buy EMD	smitty195	06-02-2010 - 21:13
Re: Cat switching	coaststarlate	06-02-2010 - 22:16
Re: Cat switching	Snuffy	06-02-2010 - 23:20
Update: Hyster agrees to buy Caterpillar/EMD	almo	06-03-2010 - 22:51

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Graham Buxton Wrote:
-------------------------------------------------------
> Caterpillar Inc (CAT.N) agreed to buy a U.S. maker
> of railroad locomotives on Tuesday for $820
> million in cash, expanding its rail business from
> service into engine manufacturing.
> 
> Deals
> 
> The world's largest maker of heavy equipment said
> it was buying Electro-Motive Diesel, which last
> year generated $1.8 billion in revenue, from
> private equity firms Berkshire Partners LLC and
> Greenbriar Equity Group LLC.
> 
> EMD, which General Motors GM.UL spun-off in 2005,
> will be part of Caterpillar's Progress Rail
> operation and will compete more directly with
> General Electric Co (GE.N), another major U.S.
> maker of locomotives.
> 
> The acquisition, the latest in a string of
> rail-related deals for Peoria, Illinois-based
> Caterpillar, is expected to close by the year's
> end.
> 
> http://www.reuters.com/article/idUSTRE65034Y201006
> 01
> 
> FYI, "Berkshire Partners LLC " is not related to
> Berkshire Hathaway (Warren Buffet).

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