Weir agrees sale of Cathcart
The Weir Group PLC has agreed to sell its former Weir Pumps site
at Cathcart, Glasgow to Clyde Union for £25m.
The property has been leased from the Weir Group by Clyde Union
since it acquired the Weir Pumps, Glasgow business in May 2007 for
approximately £45m. Completion of the site sale is scheduled prior
to 31 December 2011.
Keith Cochrane, chief executive of Weir, commented: "The
deal to sell our Cathcart site makes sense for both the Weir Group
and Clyde Union. We are pleased that the sale will support the
future of the Clyde Union business as they continue to provide
employment at engineering and manufacturing operations in
Glasgow."
ENDS
Contact details:
The Weir Group PLC
Jonathan Milne, Communications Manager
Tel:
0141 308 3781
Mobile: 0771 378
9536
Maitland
Suzanne Bartch
Rowan Brown
Tel:
020 7379 5151
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