Caterpillar acquires forestry divisions
| November 14, 2007 |
Caterpillar and Blount International announced Nov. 5 that Caterpillar is acquiring the assets of Blount’s Forestry division. Caterpillar also announced that six Caterpillar dealers have agreed to acquire certain assets of Pioneer Machinery, a distributor of forestry products in the southeastern United States.
Under the agreement between Caterpillar and Blount, Caterpillar will acquire two Blount manufacturing facilities, including a sales office and a service parts warehouse and product support operation in North America as well as an assembly operation in Sweden.
The Caterpillar dealers involved in the transaction with Pioneer Machinery are Blanchard Machinery, Carolina Cat, Carter Machinery, Gregory Poole, Ring Power and Yancey Brothers. Caterpillar acquired Pioneer Machinery from private ownership in 2001, and Pioneer is currently owned by Caterpillar and the six Cat dealers, whose service territories cover the same area in the southeastern United States.
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