TIPL is the authorized Cat dealer in the North and East regions of India. TIPL and its wide network will serve as the distribution source for a full spectrum of surface and underground mining products – providing a ‘one stop shop' for mining customers.
TIPL will now be responsible for the complete Caterpillar mining product line, including former Bucyrus-branded surface and underground machines such as Hydraulic Mining Shovels, both Diesel and Electric, Draglines, Highwall Miners, Longwall and Room & Pillar Underground products.
Mr. Sumit Mazumder, Executive Chairman of TIPL says, “Now with this agreement, TIPL will deliver a more enhanced value to its customers with integrated solutions, after-sales support, fast and efficient parts fulfillment and more. This milestone has brought in a good strategic fit, which is expected to accelerate TIPL's aftermarket parts and services growth and establish a leadership in mining products and solutions. This acquisition adds new revenue opportunities and robust, long-term growth potential for TIPL and its employees.”
Mr. Mazumder further added that “TIPL has always remained a value driven organization and shares the same commitment as Caterpillar to be the champions for our customers' enduring success. TIPL is ready with the broadest product portfolio in surface and underground mining and has a committed team in place.”
As stated by Mr Ramesh Tipirneni, Caterpillar Global Mining Regional Manager for India:- “Caterpillar promises to be the valued partner to our customers, providing the machines and technologies that help them achieve long-term success, developing comprehensive solutions, delivering the world's best parts, technical, sales and service support. Our goal is for our customers to operate safely, sustainably, productively, and profitably. Cat dealers have a proven track record helping customers realize the highest productivity and lowest owning and operating costs, and many mining customers have told us how important the dealers are to their success. TIPL and Caterpillar have shared a longstanding relationship for close to 70 years, and we look forward to realizing the growth opportunities created by this agreement.”
Caterpillar has announced similar transactions with other dealers over the last several months. Caterpillar continues to hold discussions with other Cat dealers that have mining activity in their territories and will continue to operate the former Bucyrus distribution business until the transitions have occurred in a given territory.