Heavy equipment maker Caterpillar Inc. (CAT)
bought closely held Sabre Engines Ltd.
, a U.K.-based company that specializes in high-performance marine diesel engines. Terms of the deal were not released.
"The benefit to our customers and the marine industry is that boat builders will be able to one-stop-shop a wider horsepower range for Caterpillar marine power systems," Douglas Oberhelman, Caterpillar vice president with responsibility for the company's Engine Products Division," said.
Caterpillar said it already sells 27 different engine models and sells more marine diesel engines over 250 bhp than any other manufacturer in the world. The addition of Sabre Engines Ltd. will add to Caterpillar's offering of marine power systems below
Sabre has had a cooperation agreement with small and medium industrial engine maker Perkins Engines Company Ltd., a wholly owned subsidiary of Caterpillar, since 1991. Under the agreement, Perkins sells core engines to Sabre for marinization.
Caterpillar's engine sales account for about 35 percent of total company sales and revenues, which were over $19.7 billion in 1999.
Sabre Engines, headquartered in Wimborne, Dorset, England had sales over $14.3 million in 1999. The company employs about 80 people and has manufacturing, test, assembly and service operations at their Wimborne facilities.