Caterpillar Propulsion and its subsidiaries are being purchased by a company led by a former executive of the ship controls and propulsion company.
Stefan Sedersten, who is chairman of Swedish technology company Lean Marine, has agreed to acquire the Swedish manufacturer of mechanical and electrical propulsion systems, as well as a maker of marine controls for ships.
Formerly known as Berg Propulsion, the company has been a subsidiary of US-based Caterpillar, best known as a maker of heavy machinery.
