Caterpillar Inc. the world’s leading manufacturer of construction and mining equipment, has completed its acquisition of Weir Oil & Gas and has announced the launch of SPM Oil & Gas.
Last year, Caterpillar announced that it has reached an agreement to acquire Weir Oil & Gas for $405 million from the Weir Group, a Scotland-based global engineering business.
According to Caterpillar’s statement, the newly created SPM Oil & Gas will continue to produce a full line of pumps, flow iron, consumable parts, wellhead and pressure control products that are offered via an extensive global network of service centres.
Caterpillar Group President Joe Creed said the transaction includes more than 40 global service centres and approximately 2,000 employees.
“Combining Weir Oil & Gas’ pressure pumping and pressure control portfolio with Cat engines and transmissions will provide additional value for our customers,” Mr Creed said.
“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.”
Weir Group CEO Jon Stanton added: “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.”
