News & Analysis » UK
Weir Group To Buy Valves Business Of BDK Engineering Industries - Quick Facts
September 2, 2010, Thursday, 14:33 GMT | 09:33 EST | 19:03 IST | 21:33 SGT
(RTTNews) - Weir Group Plc (WEIR.L) said it has agreed to acquire the valves business of BDK Engineering Industries Limited. The business had gross assets of ??16.7 million or INR 1.22 billion at March 31, 2010.
BDK, a family owned business based in India, generated sales of ??20.9 million or INR 1.52 billion in the year to March 31, 2010.
Keith Cochrane, chief executive of Weir, said, "BDK's range of valves will enhance our global customer offering and its Indian sales network will provide an additional route to market for many of our existing products."
Completion is conditional on tax clearance and is scheduled for early October 2010.
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