Weir Group

[14] The debt taken on by Weir to acquire their share of Worthington-Simpson was denominated in Deutsche Marks, and as that currency strengthened against both the Sterling and the Dollar, it became increasingly expensive to service.

[16] In response to the company's debt burden, Weir Group was compelled to sell off numerous assets and undertook financial reorganization in 1981.

[29] In 2010, Weir Group formed an agreement with the Japanese conglomerate Mitsubishi Heavy Industries to cooperate on pump-related work on new nuclear power stations.

[30] During August 2011, the company announced record profits of £178 million, having risen during the first six months of the year by 24%; orders were also up substantially.

[32][33] In 2014, Weir Group sought to discuss an envisioned merger between itself and the Finnish engineering firm Metso Corporation; however, the board of the latter unanimously rejected the initiative.

[35][36] During February 2015, the company issued a profit warning predicting significant losses after the US shale market went through a contraction.

[40] That same year, Weir Group was awarded its largest ever order, valued at £100m, to supply mining equipment for a large iron ore scheme in Western Australia.

[41][42] During the late 2010s, Weir Group decided to, following losses in its US-centric oil and gas activities, it would reorientate towards the mining industry, for which it was developing new technologies to reduce environmental impact.

[43] During October 2020, the company sold their oil and gas division to the American equipment manufacturer Caterpillar Inc. in exchange for $405 million.

Weir boiler feedwater pump
First Minister of Scotland Alex Salmond visiting a Weir facility in Dubai in 2011 [ 22 ]
GEHO pump assembly