CAT, Caterpillar Inc. ** CAT and Ariel Corporation reported the formation of a 50-50 joint venture that will provide well service pressure pumping products for customers in the global oil and gas industry.The combined venture, Black Horse LLC, also announced the acquisition of pump manufacturer ProSource of Houston, Texas.The acquisition of ProSource, which designs and manufactures reciprocating pressure pumps, enables Black Horse LLC to serve the well service market.Black Horse LLC will leverage CAT and Ariel engineering and manufacturing expertise to expand ProSource's existing product line to better serve global oil and gas customers. Frac pumps sold through the combined venture will be branded and sold under the Cat name and distributed through the Cat dealer network.
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