ACQUISITION: CATERPILLAR BUYS WEIR OIL & GAS

aterpillar Inc has signed an agreement to acquire the Oil & Gas Division of the Weir Group PLC, a Scotland-based global engineering business, for US$405 million. Headquartered near Fort Worth, Texas, Weir Oil & Gas produces pumps and pressure control products which are serviced via a global network of service centres.

“Combining Weir Oil & Gas’s established pressure pumping and pressure control portfolio with Cat’s engines and transmissions enables us to create additional value for customers,”

said Joe Creed, vice president of Caterpillar’s Oil & Gas and Marine Division.

“This acquisition will expand our offerings to one of the broadest product lines in the well service industry.”