Caterpillar said it will acquire Turbomach S.A., which has power generation packages that currently incorporate gas turbines manufactured by San Diego-based Solar Turbines Inc., a wholly owned subsidiary of Caterpillar. "Turbomach has distributed Solar brand turbines and equipment to the industrial power generation market for almost 20 years," said Caterpillar Group President Rich Thompson in a prepared statement. "This acquisition will benefit both Caterpillar and its customers by assuring the continuity of this relationship and enhancing our ability to sell and support such systems, particularly in the expanding markets of Europe, Africa and Asia." Turbomach, based in Riazzino, Switzerland, purchases Solar engines and packages and sells them as integrated systems into the industrial power generation market, along with providing aftermarket services and support, a Caterpillar news release said. Turbomach also develops major power projects that include site construction, balance of plant design and installation and coordination of project financing. Bob Macier, Caterpillar vice president responsible for Solar Turbines, said the acquisition would build on Solar's ability to provide complete solutions to power generation customers worldwide. "The team at Turbomach has demonstrated the entrepreneurial spirit that will be needed to meet the increasing customer demand for such solutions in these important markets," he said. Turbomach has facilities in Riazzino and in nearby Mezzovico. Additional sales and service offices are located throughout Europe, as well as in Turkey, Thailand, India and Pakistan. Caterpillar plans to purchase the shares of Turbomach S.A. and the assets of Turbomach GmbH, the news release said. The entity will continue to operate as a wholly owned subsidiary of Caterpillar. The transaction is expected to close by mid-June. PIN//Rigzone