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Article: Weir puts pump bid plans on ice
- Article from:
- The Scotsman
- Article date:
- March 17, 2001
- Author:
CopyrightCopyright 2001 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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WEIR Group, Scotland's biggest engineering group, has been forced
to put plans for a possible pounds 200 million bid for the pumps arm
of Swiss group Sulzer on ice.
An acquisition of Sulzer Pumps would have transformed Glasgow-
based Weir into the world's second biggest industrial pump maker,
but its parent, the engineering group Sulzer, now appears to have
done a U-turn on plans to sell it.
Ironically, a decision to retain Sulzer Pumps could even
ultimately make Weir a bid target for Sulzer instead.
A spokesman for Weir said: "They are reviewing strategy again,
but from what we can gather it looks as though they will now retain
the pumps business, unfortunately, and make it one of their ...