Weir NEWS

Weir Oil & Gas Dubai has signed a three-year agreement with a national oil company in the UAE. The contract secures the provision of Weir Oil & Gas Rotating Equipment services, machine shop services, emergency manufacturing and site works. This agreement could position Weir as a key provider for the client and allow Weir to expand its portfolio in the specific oil field.

Weir Group yesterday completed the acquisition of mining tools firm, ESCO, in a deal amounting to $1.3 billion. The terms of the acquisition dictates that ESCO shareholders will be paid as a mix of 59% of the deal value in cash, and the remainder in shares. The Scottish company sees the move as part of shift to focus on opportunities in its core minerals and oil & gas sectors. weir-group-acquires-mining-tools-firm