Industry Update: Construction Machinery & Equipment

Industry Highlights

  • On October 5, 2020, Caterpillar Inc. signed an agreement to acquire the Oil & Gas Division of the Weir Group PLC, a Scotland-based global engineering business for $405 million. Headquartered near Fort Worth, Texas, Weir Oil & Gas produces a full line of pumps, flow iron, consumable parts, wellhead, and pressure control products.
  • On December 15, 2020, Joint Light Tactical Vehicle-maker Oshkosh Defense announced it had agreed to buy engineering company Pratt Miller, which brings with it artificial intelligence, autonomy, and robotics expertise, for $115 million. The New Hudson, Michigan-based Pratt Miller will keep its name, team, facilities, and branding.

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