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A Scottish engineering firm has admitted its role in paying kickbacks to Saddam Hussein's regime in Iraq through the discredited United Nations Oil for Food programme.
WEIR Group has hoisted its interim dividend 25 per cent - the largest increase in more than a decade - as a show of optimism in its prospects despite an "uncertain global economic recovery".
SCOTS engineering heavyweight Weir Group yesterday joined forces with Japanese giant Mitsubishi to supply pumps for the next generation of nuclear power stations.
SHARES in Weir Group rose to record highs yesterday after it revealed first-half profits would come in well ahead of last year after a strong increase in orders.
ENGINEERING firm Weir Group has settled a long-running legal dispute with two Chinese companies, the Shijiazhuang Pump Industry Group and Shijiazhuang Kingda Pump Industry Group.
WEIR Group has built up a £500 million war chest as it continues to search the world for acquisitions after booking record annual profits.
THE new chief executive of engineering giant Weir Group, Keith Cochrane, is willing to take on £100 million-plus of acquisitions to build its power generation and oil and gas businesses.
WEIR Group is on course for a full-year profit haul of £170 million, the company said yesterday, after a robust first-half triggered a sharp share-price rise.
SCOTTISH engineering heavyweight Weir Group has a £300 million war chest for further acquisitions despite a takeover spree in the past two years.
GOVERNMENT plans to build a new generation of nuclear power stations could provide a further boost to the fortunes of Weir Group, which has revealed a big rise in half-year turnover and operating profits.
A WARCHEST of up to £300 million is available to Weir Group for further acquisitions following the completion of its biggest-ever purchase last year, the Scottish engineer said yesterday.
WEIR, the global engineering group, is weighing acquisitions on the same scale as June's $653 million (£328m) takeover of Texas-based SPW Flow Control as it looks to bolster its presence in key mining and energy markets.
SHARES in Wood Group surged to record highs yesterday, after the oil services giant unveiled bumper interim profits and confirmed it was on track for a market- beating full-year result.
SCOTTISH engineer Weir Group said today it expected its annual profits to be at the upper end of expectations as it revealed a 40 per cent increase in earnings at the half-year stage.
THE long and winding route to the meeting room, through the labyrinthine offices of investment bank UBS, was an apt analogy with the equally drawn-out search for an acquisition target that appeared to be getting the better of Weir Group's chief executive Mark Selway.
WEIR Group was lauded by the City yesterday after buying a Texas-based upstream oil and gas drilling business, sending shares to a new all-time high.
SCOTTISH engineering giant Weir Group today reported a record pre-tax profit of £87 million - an increase of 40 per cent on the previous year and slightly ahead of City expectations of £85.9m.