Wier Group of UK May put the Foundry for Sale
The Weir Group in Glasgow, UK may sell its Foundry business in near future. The company employs about 200 people & is major supplier of Steel Castings to Weir pumps. The company has registered sharp downward trend in sale to Wier pumps from May 2007 onwards Presently the company supplies only 20% of its output to Weir pumps & balance is sold to other clients.
Weir is increasingly focusing on mining, oil and gas, power and industrial markets & weighing its options on non core businesses.
According to senior executive in the pump industry in UK, very few manufacturers are likely to source their castings from UK as there are several more economical options viz components sourced from Asian markets are much economical.
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