CHICAGO Heavy machinery manufacturer Caterpillar Inc. has agreed to acquire Swedens Johan Walter Berg AB, including its Berg Propulsion division, which makes mechanically and electrically driven propulsion systems and marine controls for ships.
With the acquisition, Caterpillar will transition from selling only engines and generators to providing complete marine propulsion package systems, it said.
Berg has designed and manufactured heavy-duty marine thrusters and controllable pitch propellers since 1929. Its maneuvering and positioning systems are used in maritime applications throughout the world.
"Our team will now be able to provide worldwide Caterpillar support to marine operators for a complete, optimized propulsion package, including bow thrusters, gear boxes and shaft alternators," Tom Frake, vice president of Caterpillars marine and petroleum power division, said in a statement.
"This marks the beginning of an exciting new chapter in our companys history," Berg chief executive officer Håkan Svensson said. "We look forward to developing and providing an even greater portfolio of products and services for ship owners around the world."
Bergs thrusters, propellers and control systems will be rebranded as Caterpillar soon after the deal closes during the third quarter of 2013, pending regulatory approvals. Terms of the acquisition were not disclosed.