Article: Caterpillar Announces Entry Into Tunnel Boring Business With Acquisition of Lovat Inc.

The purchase of an industry-leading company is a strategic fit that complements Caterpillar's global business and fits well with Caterpillar's long-term growth strategy.

PEORIA, Ill., April 2, 2008 /PRNewswire-FirstCall/ -- Caterpillar Inc. and Lovat Inc. announced today that Caterpillar has acquired Lovat, a leading global manufacturer of tunnel boring machines used in the construction of metro, railway, road, sewer, water main, penstock, mine access, high voltage cable and telecommunications tunnels.

"This acquisition is Caterpillar's entry into the rapidly expanding tunnel boring machine business, and it represents an excellent strategic fit for our companies and ...

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