On May 10, Caterpillar agreed to a deal with Platinum Energy in which Cat will sell 65 percent of its wholly-owned third-party logistics business to Platinum Energy. Cat will retain a 35% stake. The deal is said to be worth $750 million.
As part of deal, the logistics business will continue to provide services for non-Cat-branded parts as well as for Caterpillar Japan. According to Cat, the proposed sale does not impact its manufacturing logistics and transportation operations or Cat-brand parts distribution.