Caterpillar To Acquire Weir Oil & Gas

Caterpillar Inc. signed an agreement to acquire the oil & gas division of the Weir Group PLC, a Scotland-based global engineering business. Headquartered near Fort Worth, Texas, Weir Oil & Gas produces pumps, flow iron, consumable parts, wellhead and pressure control products that are serviced via a global network of service centers.

In February, the Weir Group PLC, founded in 1871, announced its intention to sell the oil & gas division to become a mining technology pure play providing engineered solutions from extraction through to concentration and tailings management.

“Combining Weir Oil & Gas’ 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.”

The transaction, US$405 million, includes more than 40 Weir Oil & Gas manufacturing and services locations and 2000 employees. As to how this acquisition will impact its Black Horse LLC pump joint venture, Caterpillar said it would release no further information until after the Weir acquisition closes. In 2012, Caterpillar and Ariel Corp. announced Black Horse, a 50-50 joint venture to provide well service pressure pumping products for the oil and gas industry. At that time, Black Horse also announced the acquisition of reciprocating pressure pump manufacturer ProSource of Houston, Texas.

Related Articles

Caterpillar To Acquire Weir Oil & Gas
Siemens Energy CEO: Natural Gas Will Play Key Role For ‘Decades’
Compass To Acquire Exterran U.S. Compression Assets
MAN Energy Solutions Sets Restructuring Plans In Motion
Neuman & Esser Acquires Norwalk Compressor Co.
Baker Hughes, Snam Test Hybrid Turbine
Cooper Acquires Archrock’s Turbocharger division
More Details On Siemens Energy Spinoff

Latest News

Burckhardt, BW LNG Sign 10-Year Contract
Sundyne Makes Personnel Moves
Siemens, Bentley Jointly Launch Maintenance Monitoring Product
Tachyus Names New CEO
CCS JV Selects Siemens Energy For LNG Project
Istec Releases Rod Drop Monitoring System
Siemens Energy Selects Berlin As Headquarters
Wärtsilä To Build BioLNG Plant
RNG Facility Coming To Canada

Log In

Forgotten Password?

Haven’t got an account? Click here to register.