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Finning International, the world’s biggest distributor of Caterpillar equipment, will pay Caterpillar $465 million US for assets that once belonged to Bucyrus.
CEO Mike Waites tells BNN Finning is buying the rights to distribute Bucyrus equipment throughout Western Canada, South America and the UK.
“What it does is get us into a complete mining product lineup,” he says. Waites says Finning is very bullish on the mining sector and on commodity prices.
“We’re extremely optimistic about the acquisition, we think it’s a game-changing opportunity for us and our customers.”