Reportedly, Caterpillar, Inc. (CAT) has completed the acquisition of the Oil & Gas Division, “Weir Oil & Gas” of the Weir Group PLC, a Scotland-based global engineering business. SPM Oil & Gas, Headquartered near Fort Worth, Texas will continue to produce flow iron, a full line of pumps, wellhead and pressure control products, and consumable parts offered via an extensive global network of service centers.
“Combining Weir Oil & Gas’ pressure pumping and pressure control portfolio with Cat engines and transmissions will provide additional value for our customers,” , “This acquisition is consistent with our strategy of providing our customers expanded offerings and services which will now be one of the broadest in the well service industry.” stated Joe Creed, Caterpillar Group President.
“The creation of SPM Oil & Gas ensures the hard work accomplished by Weir Oil & Gas remains at the forefront of innovation and customer service,” , “The new organization’s products and services along with its global reach provide an excellent customer experience and opportunity for growth.” stated Jon Stanton, Weir Group CEO.
The deal includes more than 40 global service centers and approximately 2,000 employees.
Dow 30 Component Caterpillar, Inc. (CAT) is the world’s chief manufacturer of diesel and natural gas engines, construction and mining equipment, industrial gas turbines, and diesel-electric locomotives. Caterpillar, Inc. also works to make sustainable progress possible and contributes to driving positive change on every continent. To learn more about Caterpillar, Inc. (CAT) and to continue to track its progress please visit the Vista Partners Caterpillar, Inc. Coverage Page.
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