Caterpillar acquires Lovat Inc.
Will enter the tunnel-boring business.
Caterpillar Inc. has acquired Lovat Inc., a global manufacturer of tunnel-boring machines used in the construction of metro, railway and other types of tunnels.
Rick Lovat, president and chief executive officer of Lovat Inc., will join Caterpillar’s Global Mining Division, which supplies support equipment to the surface mining sector, and provides production, support and technology solutions for surface and underground hard-rock mining.
The financial details of the acquisition are not being released.
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