Video Description
Nov. 15, 2011 (Bloomberg) -- Doug Oberhelman, chief executive officer of Caterpillar Inc., discusses the company's agreement to buy Bucyrus International Inc. for $7.6 billion to expand its range of excavation equipment.
Oberhelman, speaking with Betty Liu on Bloomberg Television's "In the Loop," also discusses Caterpillar's global currency strategy. (Source: Bloomberg)
Caterpillar Completes Acquisition of Bucyrus, Creating Mining Equipment Group
PEORIA, Ill. and OAK CREEK, Wisconsin. – Driven by a key strategic imperative to
expand its leadership and support for customers in the mining industry, Caterpillar Inc.
(NYSE: CAT) today announced it has completed its acquisition of Bucyrus International,
Inc. Caterpillar funded the acquisition, valued at approximately $8.8 billion (including
net debt), using cash from its balance sheet and debt. Read more:
Caterpillar News, July 8, 2011.
Caterpillar Inc.
Caterpillar Inc. is a United
States-based corporation headquartered
in Peoria, Illinois. Caterpillar is,
according to their corporate website,
"the world's largest manufacturer of
construction and mining equipment,
diesel and natural gas engines, and
industrial gas turbines." Caterpillar
produces a wide range of heavy
equipment, including the range of
Caterpillar bulldozers. Caterpillar's
line of vehicles range from tracked
tractors to hydraulic excavators,
backhoe loaders, motor graders,
off-highway trucks, wheel loaders, and
agricultural tractors. They are used in
construction, road-building, mining,
forestry, energy, transportation and
material-handling industries.
Caterpillar is one of the thirty
companies whose stock is tracked in the
Dow Jones Industrial Average. It is a
Fortune 500 company, ranked number 50 in
2008, and first in its industry, with
more than $30 billion in assets. Source:
Wikipedia, Caterpillar.
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