DEERFIELD, Ill. — Caterpillar has signed an agreement to acquire Weir Oil & Gas, a Scotland-based company.
Headquartered near Fort Worth, Texas, Weir Oil & Gas produces a line of pumps, flow iron and pressure control products.
Joe Creed, Caterpillar’s Vice President of Oil & Transmissions said the acquisition will create additional value for customers.
The deal will cost Caterpillar $405 million, involving 40 Weir Oil & Gas locations and about 2,000 employees.
The acquisition of Weir Oil & Gas is subject to approval of Weir shareholders and review by regulatory authorities.
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