Caterpillar buys Balfour’s UK trackwork business

By Reuters
Posted Friday at 1:28 p.m.

U.S. heavy machinery maker Caterpillar will buy Balfour Beatty Plc.’s trackwork manufacturing business that makes rail switches and crossings, Balfour said on Friday.

The unit, with 2010 sales of 55 million pounds ($90 million), will become part of Caterpillar’s Progress Rail Services subsidiary.

Deal terms were not disclosed.

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