(MENAFN) Weir Group, an engineering company based in Glasgow, is set to pay USD47 million to acquire the US-based Delta Industrial Valves, according to a corporate statement, BBC News reported.
Weir decided to give an initial USD37 million in cash and equity once the full acquisition is finalized. The remaining USD10 million will be paid in cash over the upcoming 18 months.
"Weir is a global leader in process-critical products in the mining and oil sands markets and the acquisition of Delta further strengthens our comprehensive offering to customers," the firm's chief executive said.
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