UK's Weir Group to acquire Hubli-based BDK's valve biz

However, in a press release Weir Group disclosed that BDK Engineering Industries’ valves business had gross assets of Rs 122 crore as on March 31, 2010. The BDK, a family-owned business based in Hubli, manufactures valves for oil and gas, petrochemical, and power markets. Its business generated sales worth Rs 152 crore in 2009-10.

BDK Founder & CEO  Bharat Khimji told Deccan Herald that he sold the industrial unit as Weir Group offered him an attractive proposal, and promised to invest in the growth of his business.

“We have 650 workers at present, and the acquisition will not affect their job. The Weir Group is in the same business, and it is planning to shift some of its non-profiting plants in England to Hubli. Therefore, there will be further expansion. I will be on the managing board for one year after acquisition to ensure a smooth transition,” he said.

In a press release, Weir Group PLC Chief Executive Keith Cochrane said “BDK’s range of valves will enhance our global customer offering and its Indian sales network will provide additional route to market for many of our existing products.”

Weir India currently has two main operations in Bangalore serving minerals, power, and industrial markets, and currently employs 350 people. It also has significant engineering shared service capability providing engineering support to many Weir companies globally.