Weir Oil & Gas has signed an agreement to acquire pressure control wellhead technologies, systems and services provider KOP Surface Products for $114m.
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With around 450 employees, KOP offers wellheads, surface trees, valves, actuators and aftermarket services for the oil and gas industry.
Weir Oil & Gas president Paul Coppinger said: “Weir Oil & Gas is already a global leader in pressure pumping and through this acquisition we’ll be able to expand our pressure control offering even further, building on Weir’s traditional strengths in North America and the Middle East.”
Following the acquisition, KOP's current management team will continue to lead the business and report to Weir’s Oil & Gas division.
KOP surface products chief executive Gordon Cameron said: “This means we will be able to better serve our customers by benefitting from being part of one of the world’s leading engineering businesses, with a strong record of investing in innovative technology and customer service.
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By GlobalDataThe completion of the acquisition is scheduled to complete in the third quarter of this year.
Headquartered in Singapore with a manufacturing facility in Indonesia, KOP Surface Products has a network of sales and service offices in Malaysia, Thailand, Vietnam, Qatar, the UAE, Saudi Arabia and India.
Weir Oil & Gas provides well service and stimulation pumps, flow control products and replacement expendable parts.
Image: The acquisition is valued at $114m and slated for closure in the third quarter of this year. Photo: courtesy of The Weir Group.
