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.