Caterpillar sells Swedish unit to Gula Skrinet AB
Caterpillar group company, Caterpillar Luxembourg Sarl, is to sell Caterpillar Propulsion AB and its subsidiaries to Sweden’s Gula Skrinet AB in a transaction that is expected to close at the end of this month. Caterpillar’s Swedish subsidiary manufactures mechanically and electrically driven propulsion systems.
Caterpillar bought Berg Propulsion AB in 2013 and renamed it Caterpillar Propulsion AB. Now, the newly acquired business will be branded once again as Berg Propulsion.
The proposed acquisition includes Caterpillar Propulsion AB and subsidiaries including Caterpillar Propulsion Production AB, Caterpillar Propulsion Pte. Ltd, Caterpillar Propulsion International Trading (Shanghai) Co. Ltd, the manufacturing operations in Sweden and Singapore and office locations in Shanghai and Dubai. The Caterpillar Propulsion team will be transferred to the new owner with the sale.
Stefan Sedersten, previously COO and shareholder of Berg Propulsion AB and now chairman of Lean Marine Sweden and I-Tech AB, commented: “Our aim is to combine the best of two worlds, the innovative and efficient approach of the big company with the flexibility and nimbleness of the small enterprise. This propulsion business is a household name in the industry, well-known for its dedication to customer satisfaction, reliable products and services, and we have every intention to make sure it continues that way. I look forward to serve the customers together with the skilled and experienced people in the entity where I’ve spent much of my past career.”
Caterpillar Propulsion AB is headquartered in the Öckerö Islands near Gothenburg.
