The Weir Group PLC ("Weir") has agreed to acquire Novatech LLC, a US manufacturer of well service pump valves and valve seats for upstream oil and gas applications, for US$176m (£113m1) in cash.

The consideration will be funded from existing bank facilities. The acquisition is in line with Weir's acquisition criteria and is expected to be immediately earnings accretive with post tax returns expected to exceed Weir's cost of capital within the first full year of ownership. Subject to US regulatory approvals, completion of the acquisition is expected in February 2012

SPX Corporation announced that it has entered into a definitive agreement to sell its Service Solutions business to Robert Bosch GmbH for $1.15 billion in cash.

This sale is subject to normal closing conditions, regulatory and other approvals and is expected to be completed in the first half of 2012. Upon completion, SPX expects to record an after-tax book gain of approximately $450 million dollars or $8.65 per share.

"The sale of Service Solutions represents the latest significant development in the transformation of SPX," said Chris Kearney, SPX Chairman, President and CEO. "This divestiture narrows our strategic focus and enhances our ability to build out our Flow Technology segment. Flow Technology is the foundation of our company and we now expect that segment to represent more than 50 percent of our revenue going forward."

Metso has received an important automation order for Stora Enso Narew Sp.zo.o new containerboard production line at Ostroleka in Poland. The production line will produce 455.000 tonnes of light-weighted testliner per year. The EUR 285 million investment project is scheduled to be completed in the first quarter of 2013.
Metso´s delivery scope includes MetsoDNA Automation System, Process Info Management System, latest Web Inspection technology integrated with high speed Web Break Analysis system, Control and On/off-valves as well as Consistency transmitters and Field Instruments. The main shipments will take place during the third quarter of 2012.

"We are very pleased about this extensive automation order and privileged to continue working with Stora Enso Narew professional team after the successful power plant project implementation," says Ari Pinjamaa, Regional Vice President, Metso.