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Weir Strengthens Global Valves Business with Acquisition in Korea

Thursday, June 23, 2011  
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The Weir Group PLC has agreed to acquire a majority interest in the South Korean valves business formerly operated by HIM Tech Co Ltd ("HIM Tech”).

Located in Ansan, near Seoul, the business designs and manufactures control and choke valves for severe service power generation and oil & gas applications. As well as domestic customers, its products are supplied to major South Korean engineering contractors for international projects. In the year to 31 December 2010, HIM Tech’s valves business recorded sales of $10.5m.

Weir has agreed to acquire 60% of a new Korean company, Weir International, into which the HIM Tech valves business has been transferred. More…

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