Weir buys US turbine components firm

18th Nov 2010 08:23

Scottish engineering group Weir Group has bought American Hydro, a manufacturer of high-efficiency turbine components for hydro-electric power generation.The two companies have worked together over the last five years in Canada and prior to that cooperated on projects in Scotland.Financial details of the deal have not been disclosed.Last year American Hydro had sales of $42,9m (£26.9m). At the end of 2009 it had gross assets of $29.2m (£18.3m).In conjunction with the acquisition of American Hydro, Weir is investing C$10m (£6m) in a new service centre in Montreal to support American Hydro's sales growth in Canada.In a separate announcement, Weir said Dean Jenkins has been appointed as divisional managing director of the group's Power & Industrial Division from 1 January 2011.Jenkins was previously chief executive of Australian infrastructure company UGL's rail division. He replaces Phil Clifton, who is standing down for family reasons.