Weir Group up as division sale completes

0 mins. to read
Weir Group up as division sale completes
Master Investor Magazine

Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

The price of shares in FTSE 250 engineering company Weir Group (LON:WEIR) has risen by 2.07% to 1,578.50p (as of 15:00 BST) after it completed the disposal of its Flow Control division. The sale to First Reserve raised proceeds of £275 million, subject to working capital adjustments.

CEO Jon Stanton commented: “The sale of the Flow Control division marks an important step in successfully delivering our strategy. It means Weir is now a more focused business with strong positions in premium upstream mining and oil and gas markets around the world. On behalf of everyone at Weir I would like to thank David Paradis and the Flow Control team for their longstanding contribution to the Group and we wish them every success in the future“.

Take part in our poll

Of the stocks covered by Master Investor in the weekly Small Cap Round Up, which ones do you hold?

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *


Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.