Glasgow-based engineering giant Weir Pumps has taken over KOP Surface Products, a provider of advanced pressure control wellhead technologies, systems and services in a $114 million deal with Akastor, the Norwegian oil field services group
The acquisition is part of Weir’s commitment to global expansion, with a significant focus in the Asia Pacific market.
With a strong emerging business in the Middle East. KOP employs 450 people and is a provider of wellheads, surface trees, valves, actuators and aftermarket services for the oil and gas industry.
The business is headquartered in Singapore and has a manufacturing facility in Batam, Indonesia, in addition to a network of sales and service offices in Malaysia, Thailand, Vietnam, Qatar, UAE, Saudi Arabia and India.
KOP’s current management team will continue to lead the business, reporting into Weir’s Oil & Gas division.
“From a technology, service and talent standpoint, this is an excellent fit and we look forward to our future together as a combined organisation,” said Gordon Cameron, Chief Executive of KOP Surface Products.
“We see this as a substantial opportunity to offer more to our customers and prospects in the region. No doubt, we are stronger together.”
Cameron will continue to serve as President of KOP and report into Paul Coppinger, President of Weir’s Oil & Gas Division.
Coppinger said: “Since opening the first wellhead manufacturing facility in Dubai’s Jebel Ali Free Zone, we have continued to expand our global reach by supporting our customers, no matter where the job takes them.
“Our ability to manufacture products nearby is only part of the equation. We must continue to support customers through the service and products we provide. Acquiring KOP underlines that commitment and strengthens our promise to operators in this vital region.”
Founded in 1871, Weir Group plc is one of the world’s leading engineering businesses with 14,000 people operating in more than 70 countries.
31 July 2017