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Caterpillar to sell part of Bucyrus distribution to Ferreyros
April 16, 2012 / 7:45 PM / 6 years ago

Caterpillar to sell part of Bucyrus distribution to Ferreyros

A scratched and worn Caterpillar logo is pictured at the back of a bulldozer in the rental equipment yard of Holt Caterpillar, the largest Caterpillar dealer in the United States, in San Antonio, Texas March 19, 2012. REUTERS/Richard Carson

(Reuters) - Caterpillar Inc (CAT.N), the world’s biggest heavy machinery maker, said it would sell its Bucyrus distribution and support business in Peru to its distributor Ferreyros (FER.LM) for $75 million.

Caterpillar had bought mining equipment maker Bucyrus International for $7.6 billion last year.

It sold parts of the Bucyrus businesses in similar deals in December last year and early this year.

Caterpillar said about 70 former Bucyrus employees will move to Ferreyros.

Shares of Caterpillar were trading up 1 percent at $107.04 on Monday on the New York Stock Exchange.

Reporting by Megha Mandavia in Bangalore; Editing by Sreejiraj Eluvangal

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