Weir snaps up American Hydro Corp to boost its presence in renewable energy

first_img Share Weir snaps up American Hydro Corp to boost its presence in renewable energy Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Thursday 18 November 2010 8:10 pm KCS-content ENGINEER Weir Group has snapped up an American firm that makes wind turbines and hydro-electric power stations.The Glasgow-based group refused to say how much it is paying for American Hydro Corporation, which has revenues of £27m and assets worth £18m.Weir also said it would invest £6m in a new Canadia service centre, to further boost growth in North America. American Hydro has had a tie-up with Weir over the past five years and also worked with the company on hydro projects in Scotland during the 1990s. Weir’s chief executive, Keith Cochrane, said: “Hydro-power is the world’s largest source of renewable energy.”He added: “Combined with American Hydro, we have the engineering depth and skills to accelerate our development in established hydro markets throughout the Americas and Europe”“Weir has worked with American Hydro before, so knows the business well,” said RBS analyst Andrew Douglas. whatsapp Show Comments ▼ whatsapp Tags: NULLlast_img read more