Caterpillar

Caterpillar Inc., one of the world’s largest construction and mining operators, has agreed to pay $405 million to buy the Texas-based oil and gas division of Weir Group plc.

Cat, as it is known, manufactures equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The takeover of Fort Worth-based Weir Oil & Gas from the Scotland-base global engineering giant, would beef up the pressure pumping, pressure control and aftermarket services for upstream customers.

“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 Vice President Joe Creed, who oversees Cat’s Oil & Gas and Marine Division. “This...