Censcience Acquires Caterpillar Tunneling Equipment Company

On Sep.30, the acquisition delivery ceremony between Liaoning Censcience Industry Co.,Ltd. and Caterpillar (Canada) Tunneling Equipment Company was held in Toronto, Canada.

Caterpillar (Canada) Tunneling Equipment Company, formerly as LOVAT, is a world leading company in soft rock mechanized tunneling construction. Its TBM products are popularly used in railway, municipal construction, transportation, hydraulic engineering and undersea tunnel projects.

In 2008, LOVAT was fully acquired by Caterpillar and reestablished as Caterpillar (Canada) Tunneling Equipment Company. After a business strategic adjustment in May 2013, the company announced to quit the TBM market. Liaoning Censcience Industry Co.,Ltd. signed the acquisition agreement with Caterpillar in Jan.23, 2014, which means that all tangible asset and intellectual property, including the land, plants and facilities, will belong to Censcience Industry.

Liaoning Censcience Industry is one leading company in large and extra-large CNC machines, whole series of TBM and heavy equipment in China and even the world. The wholly-owned holding company LOVSUNS will be established in Canada, which will become Censcience’s overseas center for R&D, core parts manufacturing and marketing.