CAT - Caterpillar Finds Opportunity in a Weak Oil Market
Caterpillar (NYSE: CAT) today announced an agreement to acquire the oil and gas business of The Weir Group (OTC:WEGRY), a Scotland-based engineering solutions company. No, Caterpillar won't be drilling or transporting petroleum-based fuels and natural gas. Instead, it'll be expanding its existing suite of products that serve the needs of oil and gas companies.
Weir Group's oil and gas division manufactures products like valves, pumps, pressure controls, and consumable parts that primarily serve the upstream oil market , such as exploration, drilling, and production of oil wells.
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Caterpillar Finds Opportunity in a Weak Oil Market