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| Caterpillar Inc. enters the tunnel-boring machine business with the recent acquisition of Toronto-based Lovat Inc. The Peoria, Ill.-based manufacturer says the electrically driven TBMs, which range in size from 2.5 ft to 49 ft in diameter, will complement its global underground-equipment business. Terms of the deal were not disclosed. Separately, Cat has set a global price increase of up to 5%.
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