Caterpillar Inc. To Sell Part Of Bucyrus Distribution Business To Cat Dealer Barloworld Limited

Caterpillar Inc. and Barloworld Limited announced that Caterpillar Global Mining LLC and Barloworld have signed an agreement for Barloworld to acquire the Bucyrus equipment distribution and support business in South Africa and Botswana. The transaction between Caterpillar and Barloworld is valued at approximately USD115 million. In addition, Caterpillar Global Mining has assigned to Barloworld its agreements with Eqstra NH Equipment (Pty) Limited and Eqstra Botswana (Pty) Limited (together referred to as Eqstra) for the purchase of Eqstra's South Africa and Botswana Bucyrus distributorship and mining services businesses. For Barloworld, the total transaction, including the former Eqstra mining services businesses, is valued at approximately USD175 million. It is anticipated that the transaction will close in the third quarter of 2012. Upon completion of these transactions, Barloworld expects to begin providing sales, service and support for all of the former Bucyrus mining products Following completion of the acquisition, approximately 470 former Bucyrus and Eqstra employees and contract workers are expected to transition to Barloworld. in all its dealership territories in southern Africa.