April 19, 2018 / 6:38 AM / a month ago

UK's Weir to buy U.S. mining tools maker ESCO for $1.05 bln

April 19 (Reuters) - Weir Group Plc, which makes pumps and valves for mining and energy industries, said it would buy U.S.-based ESCO Corp, a maker of mining equipment parts, for an equity value of $1.05 billion.

The deal is expected to add to earnings per share in the first full year post completion, expected in early third quarter, Weir said.

Weir also said it would start a process to sell its flow control division, which designs and manufactures process pumps and valves for use in power, oil and gas industries. (Reporting by Arathy S Nair in Bengaluru; Editing by Gopakumar Warrier)

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