Caterpillar Inc. announced Wednesday its acquisition of Franklin Power Products, Inc. (FPP) and International Fuel Systems, Inc. (IFS), subsidiaries of Remy International, Inc., for $150 million.
Franklin Power Products remanufactures on-highway light- and medium-duty truck diesel engines and engine components.
International Fuel Systems supplies remanufactured diesel engine components such as high pressure fuel pumps, fuel injectors and turbochargers.
The acquistion will allow Cat Reman to increase their product and service offerings, and provide future growth opportunities, according to Steve Fisher, Caterpillar vice president with responsibility for remanufacturing.
The acquired businesses will join 14 other Caterpillar remanufacturing facilities located in the U.S., Mexico, Europe and Asia.