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Caterpillar Selling Distribution Business

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(David McNew/Getty Images)

(David McNew/Getty Images)

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PEORIA, Ill. (AP) – Heavy equipment maker Caterpillar Inc. has agreed to sell off a distribution and support business to a Canadian company for $465 million.

Vancouver-based Finning International will now employ about 900 workers who used to be with Bucyrus, a Milwaukee-based mining equipment manufacturer that Caterpillar acquired last year.

The (Peoria) Journal-Star reports that Finning is the world’s largest Caterpillar equipment dealer.

Finning will run sales, service and support operations in South America, Canada and the United Kingdom.

Peoria-based Caterpillar currently operates the Bucyrus mining equipment factories in South Milwaukee and Milwaukee. Its mining equipment headquarters is in Oak Creek, Wis.

© 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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