Weir Oil & Gas Announces $40mil Capacity Expansion
FORT WORTH, TX (March 30, 2011) -- Weir Oil & Gas announces an
extensive capacity expansion of its Weir
SPM business manufacturing and service facility in Fort Worth,
Texas. The $40 million investment is part of the company’s
aggressive growth strategy that aligns with its increased business
in drilling and hydraulic fracturing caused by a rise in horizontal
rig counts supported by oil and liquid rich shale in North
America.
The expansion includes purchase of 12.7 acres
adjacent to the current location for creation of a dedicated Fort
Worth Service Center to provide quick response times for major pump
overhaul. Construction will also include multiple warehouses,
an assembly and engineering office, pipe shop, pump machine shop, a
swivel manufacturing facility and service center. New and renovated
offices will accommodate recently hired management and engineering
staff. The site also includes land for future
expansions.
Construction is under way and the impact of
the investments is already starting to take effect. Renovations and
construction are expected to be completed by the third quarter of
2012.
Steve Noon, Divisional Managing Director of
Weir Oil & Gas, said, “We will continue to invest in Weir SPM.
Since its acquisition in 2007, Weir SPM has maintained a
market-leading position in this niche segment of the oil and gas
industry. The expansion in Fort Worth will support our
extensive service footprint and will provide additional capacity to
meet our customers’ needs.”
The renovations and new space allow Weir SPM
to install new machinery for increased pump, fluid end and flow
manufacturing capacity. The equipment purchased includes additional
machining centers, lathes, and equipment capable of producing
swivels completely in house for the first time in the company’s
history. Investing in this equipment gives Weir SPM a significant
increase in its yearly output capacity.
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