EXCLUSIVE: INDIA - Caterpillar to acquire Hindustan Motors' earthmoving division
American earthmoving equipment maker Caterpillar has agreed to consider a price of 3375 million rupees ($US73 million) to acquire the earthmoving equipment division of Hindustan Motors (HM), writes Arjab Basu. Setup in 1969, HM's earthmoving division has two facilities in south India; one at Thiruvallur in the state of Tamil Nadu and a second at Pondicherry. The agreed selling price is inclusive of net current assets of both the manufacturing facilities plus Hindustan Motors' engineering and education centres.
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