Weir acquires upstream oil and gas valve provider Novatech

Engineering company Weir has agreed to acquire Novatech, a US manufacturer of well service pump valves and valve seats for upstream oil and gas applications, for $176m (£113m) in cash.

Subject to US regulatory approvals, completion of the acquisition is expected in February 2012.

Based in Dallas, Texas, Novatech produces a wide variety of proprietary valves and valve seats for high-pressure applications such as frac, cement and mud pumps used in unconventional upstream oil and gas operations.