DEERFIELD, Ill., Oct. 5, 2020 /PRNewswire/ — Caterpillar Inc. (NYSE: CAT) has signed an agreement to acquire the Oil & Gas Division (“Weir Oil & Gas“) of the Weir Group PLC, a Scotland-based global engineering business. Headquartered near Fort Worth, Texas, Weir Oil & Gas produces a full line of pumps, flow iron, consumable parts, wellhead and pressure control products that are serviced via an extensive global network of service centers located near customer operations.
“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.”
The purchase price of $405 million is to be paid in cash at