Chennai-based GMMCO Ltd has acquired the expanded Caterpillar’s mining product line distribution and support business for its territories from Bucyrus India Pvt Ltd, which is a part of the US-based construction and mining equipment major Caterpillar Inc, for an undisclosed amount.
GMMCO, formerly known as General Marketing and Manufacturing Co Ltd, is a part of diversified business conglomerate CK Birla group and is an authorised Caterpillar dealer in west, central and southern India.
Founded in 1967, GMMCO is into sale and support of construction and mining equipment as well as engine power systems in India and also offers new and used, and rental equipment. The company currently handles a business volume of $400 million.
Bucyrus India manufactures mining equipment that include draglines, unit rig mining trucks, room & pillar and longwall equipment, electric rope and hydraulic shovels, highwall miners, drills, belt systems and various lines of other equipments. Caterpillar had acquired Bucyrus International in a global deal in November 2010 including its Indian operations, to expand its base in the mining industry.
One source privy to the development said the deal between GMMCO and Bucyrus was completed in mid-December.
Khaitan & Co was the adviser to GMMCO for the transaction.
