The Next Great Chapter; Caterpillar Finalizes Purchase Of Bucyrus

When Caterpillar announced that it had purchased Bucyrus for $8.8 billion, it was billed as the next great chapter in the history of mining. Surely, when the history books are written, it will be remembered as a deal that changed the face of the mining equipment sector, and it could well be a major milestone in the path toward autonomous mining in the future. In the short term, the deal is a clear indication that the world?s largest equipment maker is bullish on the mining sector. The purchase of Bucyrus allows Caterpillar to expand its mining interest to six product segments (underground, surface extraction, large mining trucks, surface material handling, hauling products and growth markets) with 16 product lines to serve the mining industry. But the commitment doesn?t end there. According to Steve Wunning, president of Caterpillar?s resource industries group, which includes Cat?s global mining division, the commitment to mining goes far beyond the acquisition of Bucyrus.