Caterpillar Inc. said Wednesday that it has acquired closely held Lovat Inc., a Toronto company that makes specialized tunnel-boring machines.

The Peoria heavy-equipment manufacturer didn’t disclose terms of ithe purchase officials called ‘Caterpillar’s entry into the rapidly tunnel boringt machine business.’

Lovat’s hefty equipment is used in boring tunnels for underground rail lines, sewers, water mains, and other sub-surface projects.

Its boring machines are currently in use in China, Egypt, Colombia, Australia and a numerous other nations around the globe. Read more

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