WEIR Weir Group Plc

1,990.00

-22.00 (-1.09%)

24 Apr 2024 - Closed

Delayed by 15 minutes

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Weir Group Plc	LSE:WEIR	London	Ordinary Share	GB0009465807	ORD 12.5P

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-22.00	-1.09%	1,990.00	1,995.00	1,996.00	2,014.00	1,985.00	2,014.00	423,835	16:35:02

Industry Sector	Turnover	Profit	EPS - Basic	PE Ratio	Market Cap
Pumps And Pumping Equipment	2.64B	227.9M	0.8759	22.78	5.19B

Weir Group to Sell Oil-And-Gas Business for $405 Million

05/10/2020 7:49am

Dow Jones News

Weir (LSE:WEIR)
Historical Stock Chart

From Apr 2019 to Apr 2024

By Jaime Llinares Taboada

Weir Group PLC said Monday that it has agreed to sell its oil-and-gas business to Caterpillar Inc. for $405 million.

The FTSE 250 engineering company said the deal follows its strategy of becoming a pure mining technology company. The proceeds will be used to reduce leverage.

"Alongside the previous sale of the flow control division and the acquisition of ESCO, it is a major milestone in transforming the group into a focused, premium mining technology business," Chief Executive Jon Stanton said.

Weir's oil-and-gas business contributed an adjusted operating profit of 36.4 million pounds ($47.1 million) in 2019, and an adjusted operating loss of GBP4.4 million in the first half of 2020.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

October 05, 2020 02:34 ET (06:34 GMT)