Oil & Gas News, October 2020

Weir Group has announced it is selling its oil and gas division to Caterpillar in a £314m deal.

The division employs more than 2,000 people, most of them in North America. It was loss-making in the first half of this year.

Weir has pursued a strategy of leaving the power and oil and gas markets.

It has concentrated efforts on mining, which generate revenues of over £2bn annually. The business processes the majority of the world’s mined copper.

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