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Associated Press
Caterpillar to Buy Williams Technologies
Wednesday August 18, 1:02 pm ET
Caterpillar Unit to Buy Williams Technologies From Remy for an Undisclosed Amount

PEORIA, Ill. (AP) -- Construction equipment manufacturer Caterpillar Inc. said Wednesday that its Caterpillar Remanufacturing Services unit will acquire Williams Technologies Inc., a remanufacturer of transmissions and engines, from Remy International Inc. for an undisclosed amount.

Williams currently remanufactures more than 40 transmission models for a variety of vehicle platforms and for several automotive original equipment manufacturers. The Summerville, S.C.-based company employs about 500 workers. Williams will be merged into seven other Caterpillar facilities in the United States, Mexico and Europe.

Caterpillar said it plans to broaden its portfolio of remanufactured components and expand into the automotive powertrain business with the acquisition of Williams. The deal is expected to take effect Sept. 1, pending legal and regulatory approval.

Shares of Caterpillar were up 6 cents at $72.54 during trading on the New York Stock Exchange.
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