FINNING INTERNATIONAL of Edmonton, Alta., has signed a deal to acquire the Caterpillar dealerships in Argentina, Uruguay and Bolivia. Revenues in these countries this year are expected to be $110 million. Along with its dealership in Chile, Finning will have 22 branches and 2,264 employees in the four countries.
Finning will pay $51 million to buy shares in the South American dealerships, and it will assume $51 million in debt.
Finning is the premier Caterpillar dealer in western Canada. The publicly traded company had revenues of $2.360 billion and a net income of $101 million in the first nine months of this year. It maintains a sales- and service-oriented web site at www.finning.ca