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Caterpillar bets on mining with bid for Bucyrus Add to ...

Caterpillar is placing a big bet on the global commodities boom with its proposed $7.6-billion (U.S.) bid for mining-equipment maker Bucyrus a move expected to have a positive knock-on effect for Canadian equipment distributors.

Peoria, Ill.-based Caterpillar's decision to increase its exposure to mining as global demand for everything from coal and iron ore to copper and gold continues is a strong vote of confidence in mining's long-term potential, Desjardins Securities analyst Benoît Poirier said.

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