Caterpillar may sell part of logistics subsidiary

By Associated Press
Posted March 23 at 9:39 a.m.

Heavy-equipment maker Caterpillar Inc. says it is considering selling off part of its logistics subsidiary, so it can focus on its core business.

Caterpillar said Wednesday that it has hired Bank of America Merrill Lynch and Robert W. Baird & Co. to help it evaluate the options for its third-party logistics business.

Caterpillar Vice President Steve Larson says the third-party logistics business has more than 50 customers worldwide and has performed well, but it’s not part of the Peoria, Ill., firm’s main business of making yellow-and-black mining and construction equipment.

If Caterpillar does sell its third-party logistics unit, the company’s own manufacturing logistics and parts distribution operations will not be included.

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