14th Jan 2026 18:52
Weir Group PLC - Glasgow-based engineering firm - Announces, alongside Olayan Saudi Holding Co, the signing of an agreement to establish a joint venture in Saudi Arabia in "a significant milestone in their collaboration to provide advanced mining technology solutions". Says the JV will combine the respective strengths of both organisations to support sustainable growth in Saudi Arabia's mining industry, and builds on the pair's longstanding relationship. Expects the JV to start operations by the end of the first quarter.
Weir's Chief Executive Officer Jon Stanton comments: "We are proud to have signed the shareholders' agreement with Olayan Saudi Holding Co, marking a significant step in establishing our joint venture to support the Kingdom of Saudi Arabia's rapidly developing mining industry. By combining Weir's technology leadership in sustainable mining with Olayan's deep local expertise, this agreement strengthens our ability to serve customers and drive growth, build local capability, and contribute to the success of Vision 2030."
Current stock price: 3,044.00 pence
12-month change: up 40%
By Emma Curzon, Alliance News reporter
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