Caterpillar Inc. and Remy International Inc. announced today that Caterpillar is acquiring certain assets of Franklin Power Products Inc. and International Fuel Systems Inc., subsidiaries of Remy International. The deal is expected to close soon
and is subject to the completion of legal and regulatory requirements.
Franklin Power Products remanufactures on-highway light- and medium-duty truck diesel engines and engine components. International Fuel Systems is a premium provider of remanufactured diesel engine components such as high-pressure fuel pumps, fuel injectors and turbochargers.
"This acquisition represents an excellent strategic fit between Cat Reman and these two companies. It increases our overall product and service offering, and will provide a platform for future growth opportunities for Cat Reman," said Steve Fisher, Caterpillar vice president with responsibility for remanufacturing.
With the acquisition of Franklin Power Products and International Fuel Systems, Cat Reman will be positioned as the leading diesel engine remanufacturer in North America with a full range of products and remanufacturing capabilities for automotive and light truck engines.