LNSS buys Caterpillar's tunnelling business

20 October 2014


CANADA -Liaoning Censcience Industry (LNSS) has acquired the fixed assets and entire Intellectual Property of Caterpillar Tunneling Canada Corporation (CTCC). The two companies entered into an Assets Purchase Agreement in January 2014, and a closing ceremony was held at CTCC's facilities in Toronto, Canada.

LNSS is a TBM manufacturer based in China. A spokesman claimed it possesses the biggest TBM manufacturing capacity in the country. Following the acquisition, LNSS has set up its wholly-owned subsidiary Lovsuns Tunneling Canada Ltd ("Lovsuns") in Toronto. The new entity will be responsible for operating the acquired assets and will "assume the strategic role of LNSS's overseas engineering, manufacturing and sales/service centres".