Peoria, Ill.-based Caterpillar Inc. plans to acquire Johan Walter Berg AB, a marine control and propulsion manufacturer based in Ockero Islands, Sweden.
Berg’s heavy duty marine thrusters and controllable pitch propellers are used in a variety of global maritime projects. The company will be added to the Caterpillar Marine and Petroleum Power Division, which focuses on diesel and natural gas engines used in marine and petroleum applications.
“Berg is one of the most highly regarded brands in the marine industry,” said Tom Frake, Caterpillar vice president with responsibility for the Marine and Petroleum Power Division. “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. In addition, Berg’s expertise, focus on maximizing customers’ uptime and minimizing operation cost aligns well with Caterpillar’s value proposition.”
The deal is expected to close in the third quarter.