Apprentice Buys the Company

Posted: Wednesday 9th May 2007

Up to 600 jobs have been saved after one of Scotland's richest men bought the historic pump business where he started his career.

Engineering tycoon Jim McColl bought Glasgow-based Weir Pumps in a 100 million funding package.

The deal will see the firm incorporated into a new company, Clyde Pumps Ltd., and a new factory built in the Glasgow area.

Weir Group announced a year ago it would be relocating Weir Pumps out of its Cathcart site in Glasgow by mid 2009.

Mr McColl started his career as an engineering apprentice with Weir Pumps.

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