C

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.

‚ÄúCombining Weir Oil & Gas‚Äôs established pressure pumping and pressure control portfolio with Cat‚Äôs engines and transmissions enables us to create additional value for customers,‚ÄĚ

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

‚ÄúThis acquisition will expand our offerings to one of the broadest product lines in the well service industry.‚ÄĚ
Posted 
Nov 9, 2020
 in 
CHP
 category
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