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Cat Exits Boring Market Segment

Posted on May 9, 2013

Caterpillar Inc. is exiting the tunnel boring machinery business.  The company said it is closing its manufacturing facility in Toronto by mid-2014.  Caterpillar acquired the facility in 2008 when it bought Lovat Inc., but now says the plant is no longer a "strategic growth opportunity" and will be shut down. Parts and service support will be continued through 2016.