PEORIA, ILLINOIS – CATERPILLAR has agreed to acquire certain assets of a subsidiary of Vancouver-based FINNING INTERNATIONAL, O.E.M. REMANUFACTURING (OEM Reman). The agreement includes OEM Reman’s rail and non-Cat engine components remanufacturing business, together with related work-in-progress and inventory. OEM Reman has also agreed to supply remanufacturing services to Caterpillar for these lines of business for an initial two-year period.
OEM Reman will continue to perform remanufacturing services under a long-term contract for Finning (Canada) customers in western Canada.
Caterpillar (www.Cat.com), one of the world’s largest remanufacturers, announced in 2004 that its remanufacturing group would offer its capabilities to original equipment manufacturers in other industries, including automotive and industrial products. Caterpillar has entered a number of strategic alliances to expand its presence in external remanufacturing markets.