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Weir selling off weak oil and gas division

Weir selling off weak oil and gas division

Engineering and services firm Weir Group (WG.) says it will “significantly enhance” its earnings stability by selling off its oil and gas division. Caterpillar, mainly known for its heavy equipment business, has agreed to pay $405m (£313m) for the division, which made an adjusted operating loss of £4.4m in the first half.

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