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Weir Floway Inc history
Weir Floway Inc company history timeline
Born in 1842 in Airdrie, James Weir was only a boy when he went to Glasgow to serve an apprenticeship with Randolph Elliot & Co., which later grew into the noted shipbuilder Randolph Elder.
James Weir went to sea at the age of 23, serving as a marine engineer, but in 1871 returned to shore to set up his own business, initially in Liverpool and then in Glasgow.
In 1871, two brothers, George and James Weir, founded the engineering firm of G & J Weir, joining the booming industrial scene in the west of Scotland.
In 1886, the company purchased a site in Cathcart, then a small village located next to Glasgow, and set up a small workshop, foundry, and smithy.
The second was the Argus Foundry, which had been launched in Thornliebank, Glasgow, in 1920, and specialized in the production of iron and nonferrous castings.
In order to accommodate this expansion, the company moved its valve production to a new 85,000-square-foot plant in Queenslie, Glasgow, in 1951.
Under the next generation of Weirs, in the form of Kenneth Weir, who was appointed chairman in 1956, the company maintained its growth.
In 1999, the company bought Australian pump leader Warman International, paying AUD 460 million. Its largest acquisition during that period was of EnviroTech Pump-systems, based in the United States, which cost the company £135 million in 1994.
"Weir Group Pumped up to Win," European Intelligence Wire, March 1, 2004.
Dey, Iain, "Weir Group Forced to Close Tap at Historic Glasgow Plant," Sunday Business, March 20, 2005.
As part of that restructuring process, the company also began seeking new large scale acquisitions, such as the EUR 100 million purchase of Italy's Pompe Gabbionata SpA in 2005.
In July 2018, the Group makes its biggest acquisition to date, when it buys the Portland-based ESCO Corporation for $1.3bn.
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