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Weir to Form Chinese Joint Venture Focused on Shale Gas

Monday, November 29, 2010  
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The Weir Group PLC and Shengli Oilfield Highland Petroleum Equipment Co. Ltd. (Highland) announce the formation of a joint venture (JV) to provide high-pressure well service pumps and related flow control equipment to the developing shale gas industry in China.

The JV is expected to commence operations in the first half of 2011, subject to regulatory approvals.  It will be owned 60% by Weir and 40% by Highland and will be based in Dongying, Shandong Province, China. The JV will build on the success achieved by Weir SPM, a leading manufacturer of specialized products for the oil and gas market which has benefited from the development of shale gas production in North America. More…

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