Codan finally sells Minetec to Caterpillar for $14 million after three year collaboration
Back in February 2018, Caterpillar and Codan Ltd-owned Minetec, announced an agreement for the development and delivery of technologies targeting underground hard rock mining challenges with the integrated solutions to be offered as part of Cat® MineStar™. The third party collaboration brought Cat greater underground positioning capabilities and an underground tracking network with a high speed data channel on top of it. Fast forward to today and the relationship has culminated in Codan agreeing to sell 100% of Minetec to Caterpillar for $14 million. Following completion, Codan will provide manufacturing services to Caterpillar for…
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