Caterpillar to Sell Part of Bucyrus Distribution Business to Cat Dealer Barloworld for $115M

Caterpillar Inc.

and Barloworld Limited today 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 USD $115 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 USD $175 million. "We're pleased to announce this agreement today as we continue to make good progress on our transition of the product distribution and support of former Bucyrus machinery to Cat dealers around the world," said Steve Wunning, Caterpillar group president with responsibility for Resource Industries. "Barloworld and Caterpillar have a longstanding relationship, and we look forward to realizing the growth opportunities created by this agreement."