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Caterpillar Inc. 2010-11-15. Archived from the original (PDF) on 2010-12-14 Caterpillar Inc. and bucyrus International, Inc. announced today they have entered into an agreement under which Caterpillar will acquire Bucyrus International in a transaction valued at approxijately $8.6 billion (including net debt).
In April 1946, the company changed its name to the Marion Power Shovel Company to more closely reflect its products. [6]Marion built its first walking dragline in 1939 and became a key player in providing giant stripping shovels to the coal industry, being the first to put a long-boom revolving stripping shovel to work in North America in 1911.
The Caterpillar company consolidated its product lines, offering only five track-type tractors: the 2 Ton, 5 Ton, and 10 Ton from the Holt Manufacturing Company's old product line and the Caterpillar 30 and Caterpillar 60 from the C. L. Best Tractor Co.'s former product line. The 10 Ton and 5 Ton models were discontinued in 1926.
The sale closed on March 28, 2005, with Progress Rail becoming a separate private company. [6] On May 17, 2006, Caterpillar Inc. announced it would purchase Progress Rail from One Equity Partners for $1 billion in cash, stock and debt. [7] The acquisition by Caterpillar was announced as part of its long-term strategy, Vision 2020.
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As of 2010, Caterpillar Inc. was the 229nd largest company in the world, In 2011, Caterpillar was the best-performing stock last year among the 30 companies in the Dow Jones industrial average [30] with a market value of US$45.13 billion. Caterpillar is one of the 30 companies whose stock is tracked in the Dow Jones Industrial Average.