5th May 2015 05:59
LONDON (Alliance News) - FTSE 100-listed engineers Rolls-Royce Holdings PLC and The Weir Group PLC have formed a joint venture to develop equipment designed to make drilling for oil using the "fracking" process more efficient, The Daily Telegraph reports.
Rolls' MTU business, which makes large diesel engines, and staff at Weir, which produces pumps, which will on creating a combined engine, transmission and pump system.
The deal builds on an agreement signed between the pair last year, the Telegraph said.
http://www.telegraph.co.uk/finance/newsbysector/industry/engineering/11581758/Rolls-Royce-and-Weir-form-joint-venture-in-fracking.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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