Caterpillar Inc. and Hewitt Equipment Ltd. this week announced that Caterpillar Global Mining and Hewitt Equipment Ltd. signed an agreement for Hewitt and its subsidiary, Atlantic Tractors & Equipment Ltd. (Atlantic), to acquire the Bucyrus equipment distribution and support business in the province of Quebec, Western Labrador and the Maritimes.
“Cat dealers play a pivotal role in helping us build and maintain our world-class system of distribution and product support,” said Steve Wunning, Caterpillar group president with responsibility for Resource Industries. “This is critical to providing value and solutions for Caterpillar mining customers, and Hewitt will be helping us achieve that.”
"We are very enthusiastic about this agreement, under which we will provide an even broader product offering to our valued mining customers,” said Jim Hewitt, president and CEO of Hewitt. “We look forward to collaborating with Caterpillar and with our customers as we work together to build on the existing Bucyrus support resources in our service territory. We are already making significant investments in facilities and in training to further strengthen that support capability. Further, as the transition takes place, we will be investing heavily in parts and component inventories to help ensure our customers attain optimal availability of their Cat and Bucyrus equipment.”
Subject to customary closing conditions, the transaction will close on Aug. 1.
Caterpillar has announced similar transactions with other dealers over the past several months. Caterpillar continues to hold discussions with other Cat dealers that have mining activity in their territories and will continue to operate the former Bucyrus distribution business until the transitions have occurred in a given territory.
Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
Hewitt Equipment is the authorized Cat dealer for the province of Quebec and Western Labrador, and through its subsidiary, Atlantic Tractors & Equipment Ltd. is also the Cat Dealer for the Maritime provinces. With headquarters in Pointe-Claire, Quebec, and 45 branches, the Hewitt Group sells, rents and services the full line of Caterpillar products through five divisions: heavy equipment, material handling, energy, truck and agricultural.