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March 29, 2006 / 1:38 PM

Caterpillar buys Canadian engine assets

PEORIA, Ill., March 29 (UPI) -- Illinois-based Caterpillar Inc. is buying engine component assets from a unit of Canada's Finning International Inc.

Finning's O.E.M. Remanufacturing Co. Inc. subsidiary is selling its rail and non-Cat engine component remanufacturing business, along with related work-in-progress and inventory, Caterpillar said Wednesday.

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Also, the two companies agreed that for at least two years O.E.M. would provide remanufacturing services to Caterpillar, which in turn would handle sales and marketing of those services.

The value of the deal was not disclosed.

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