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Caterpillar Acquires Bucyrus

Caterpillar Inc. and Bucyrus International, Inc. entered into an agreement under which Caterpillar will acquire Bucyrus International in a transaction valued at approximately $8.6 billion (including net debt). The acquisition is based on Caterpillar’s key strategic imperative to expand its leadership in the mining equipment industry, and positions Caterpillar to capitalize on the robust long-term outlook for commodities driven by the trend of rapid growth in emerging markets which are improving infrastructure, rapidly developing urban areas and industrializing their economies.

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NSSGA touts Chamber of Commerce report

Citing a new U.S. Chamber of Commerce report as more evidence that the nation’s transportation infrastructure requires immediate and long-term investment to help spur economic growth, leaders of the National Stone, Sand & Gravel Association (NSSGA) praised the first-ever nationwide and state-by-state “Transportation Performance Indexes,” which show a significant decline over the last five years in how infrastructure is serving the needs of domestic commerce, international trade and the overall U.S. economy.

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People on the Move December

Nashville-based Rogers Group Inc. (RGI), the largest privately owned aggregates firm in the nation, entered its fourth generation of family ownership with Ben L. Rechter, great-grandson of company founder Ralph Rogers, being elected as chairman of the board of directors.

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ABB acquires Baldor Electric Co.

ABB will acquire Baldor Electric Motor Corp. in an all-cash transaction valued at approximately $4.2 billion, including $1.1 billion of net debt.

The transaction closes a gap in ABB’s automation portfolio in North America by adding Baldor’s strong NEMA motors product line and positions the company as a market leader for industrial motors, including high-efficiency motors. Baldor also adds a growing and profitable mechanical power transmission business to ABB’s portfolio.

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USGS predicts third-quarter results

The U.S. Geological Survey issued predictive results for third-quarter
domestic production of construction materials (crushed stone, sand and gravel, and cement). Actual third-quarter results will be released next month.

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