Indian acquisition for Weir Group
Glasgow-based engineering company Weir Group has strengthened its presence in the Indian market with the purchase of BDK Engineering Industries.
Based in the southern state of Karnataka, BDK specialises in valve manufacturing for energy sectors.
Weir Group already owns two other Indian facilities in the mining and power station sectors.
Last month, Weir Group announced a 58% rise in pre-tax profits in the first six months of this year to £144m.
The purchase of BDK brings 600 new employees into the Glasgow-based firm. The two other operations in India employ 350 people.
BDK Engineering was built up as a family-owned business and had almost £17m in gross assets in March this year, and £21m of sales in the previous year.
Keith Cochrane, chief executive of the specialist pump and valve maker Weir Group, said: "This acquisition further strengthens our emerging market footprint.
"BDK's range of valves will enhance our global customer offering and its Indian sales network will provide an additional route to market for many of our existing products."
Weir employs more than 9,000 people around the world, working across the mineral, oil and gas and power sectors.