NEWSWIRETODAY Press Release& Newswire Distribution | HOME
MOST TRUSTED NEWSWIRE PRESS RELEASE DISTRIBUTION
PRTODAY / NewswireToday press release distribution service network
Written by / Agency / Source: Caterpillar, Inc.
Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Caterpillar Signs Agreement to Acquire Weir Oil & Gas - Caterpillar, Inc. has signed an agreement to acquire the Oil & Gas Division (“Weir Oil & Gas”) of the Weir Group, PLC, a Scotland-based global engineering business - Global.Weir / Caterpillar.com
Caterpillar Signs Agreement to Acquire Weir Oil & Gas

 

NewswireToday - /newswire/ - Deerfield, IL, United States, 2020/10/05 - Caterpillar, Inc. has signed an agreement to acquire the Oil & Gas Division (“Weir Oil & Gas”) of the Weir Group, PLC, a Scotland-based global engineering business - Global.Weir / Caterpillar.com. NYSE: CAT

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Heavy Machinery / Handling Solutions Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

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 closing. The acquisition requires approval by Weir shareholders and is subject to review by various regulatory authorities as well as customary closing conditions. The transaction includes more than 40 Weir Oil & Gas manufacturing and services locations and approximately 2,000 employees.

“We are pleased to have reached this agreement. Caterpillar is a great new home for Weir Oil & Gas, its world-class people, products and services,” said Jon Stanton, Weir Group CEO. “It will enable Weir Oil & Gas to continue to flourish, ensuring the business remains at the forefront of innovation and customer service in the future.”

This acquisition is consistent with Caterpillar’s strategy to invest for long-term, profitable growth through operational excellence, expanded offerings and services. Caterpillar is taking advantage of its strong balance sheet to complete this acquisition that supports the enterprise strategy.

Morgan Stanley & Co. LLC is serving as Caterpillar’s exclusive financial advisor for the transaction.

About Weir Oil & Gas

Weir Oil & Gas (global.weir) is a division of the Weir Group PLC, the Scotland-based global engineering business with operations in more than 50 countries. The division is headquartered in Fort Worth, Texas, and is a leading provider of pressure pumping, pressure control and aftermarket services to upstream oil and gas customers in North America and internationally. In February 2020, The Weir Group PLC announced its intention to sell the Oil & Gas division to become a mining technology pure play providing highly engineered solutions from extraction through to concentration and tailings management. Founded in 1871, The Weir Group PLC has been listed on the London Stock Exchange since 1946.

About Caterpillar

Since 1925, Caterpillar, Inc. (caterpillar.com) has been helping our customers build a better world making sustainable progress possible and driving positive change on every continent. With 2019 sales and revenues of $53.8 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Services offered throughout the product life cycle, cutting-edge technology and decades of product expertise set Caterpillar apart, providing exceptional value to help our customers succeed. The company principally operates through three primary segments Construction Industries, Resource Industries and Energy & Transportation and provides financing and related services through its Financial Products segment.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Heavy Machinery / Handling Solutions Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Caterpillar, Inc.

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick NewswireToday Visibility Checker

 

Distribution / Indexing: [+]  / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Heavy Machinery / Handling Solutions articles,
CATCH Visitors via Your Competitors Announcements!


Caterpillar Signs Agreement to Acquire Weir Oil & Gas

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name NewswireToday and LINK as the source.
 
Publisher Contact: Press Office - Caterpillar.com 
309-675-1000 press[.]caterpillar.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Caterpillar, Inc. securities in any jurisdiction including any other companies listed or named in this release.

Heavy Machinery / Handling Solutions via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Caterpillar, Inc. / Company Profile


Read Heavy Machinery / Handling Solutions Most Recent Related Newswires:

Otokar Relies on Voith Electrical Drive System for the e-Kent C
ANDRITZ to Convert Paper Machine from Newsprint to Packaging Paper Production for Volga Pulp and Paper Mill, Russia
ANDRITZ Successfully Starts Up Major Pulp Production Equipment for Bracell’s 'STAR' Project, Brazil
TRUMPF Launches New 2D Laser Cutting Machine for Beginners
Voith Sets Course for Development of Sustainable Packaging Papers with World's Most Modern Pilot Coater
ANDRITZ to Supply A Tissue Production Line with Double-width Tissue Machine to Asia Symbol (Guangdong) Paper, China
Caterpillar to Showcase Sustainability, Safety and the Future of Mining At MINExpo 2021
ANDRITZ Receives Follow-up Order from Kastamonu Entegre, Turkey, for A New MDF Production Line
ABB Unveils Game-changing ABB Ability™ eMine to Fast-track Transition to All-electric Mines
ANDRITZ to Supply 10th High-efficiency PowerFluid Circulating Fluidized Bed Boiler to Japan
ANDRITZ to Supply Tissue Plant to Astrabel, Croatia
LKAB Extends ABB Service Agreement for Hoists At Swedish Mine by Three Years, and Adds Hoisting Motors
Full-line Supplier Voith Receives Order from Shandong Huatai Paper to Rebuild PM 11 for Production of Woodfree Uncoated Paper
Datalogic Announces the New Datalogic MFDS Solution for Tracking Non-conveyable Items in A Non-singulated Flow
ANDRITZ to Supply Chip Storage System to Visy Pulp & Paper, Tumut Mill, Australia

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  Limelon Advertising, Co.

Visit  BizJobs.com





 
  ©2021 NewswireToday — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com newswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are proudly NOT affiliated with USA TODAY (usatoday.com)