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.
This is a key component in smart phones, solar panels, wind turbines and electric vehicles.