PEORIA, Ill. (AP) -- Heavy equipment maker Caterpillar Inc. said Tuesday it agreed to buy Brazil's MGE Equipamentos & Servicos Ferroviarios Ltda., which makes and reconditions train components.
Financial terms of the purchase by Caterpillar unit Progress Rail Services Division, were not disclosed. The agreement will be the Albertville, Ala.-based division's first acquisition outside North America.
MGE makes and reconditions traction motors, main and auxiliary generators, control equipment and auxiliary components for locomotives and transit cars. The company also maintains, modernizes and rebuilds transit cars and locomotives.
Ronaldo H. Moriyama and Carlos A.A. Roso, who were principal MGE shareholders, will continue as co-managing directors of MGE.