Weir Group PLC Proposed Sale of Weir Oil & Gas to Caterpillar Inc Presentation (Pre-Recorded) Transcript
Hello, everybody, and I hope you're all keeping safe and well. My name is John Stanton, and I am the Chief Executive of The Weir Group. I am delighted that today, we're announcing the proposed sale of our Oil & Gas division, which is a major milestone for the group, and when complete, will deliver on the transformation of Weir into a premium mining technology pure play.
When we announced in February that we were going to sell Oil & Gas, we had 2 objectives: the first was to find a good home for the business; and the second, to maximize value for all of our stakeholders, and this deal delivers on both objectives. In Caterpillar, we found a strong strategic buyer for the business, where our people and the technologies that we've developed over the years will have the opportunity to flourish
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