Glasgow-based engineering firm Weir Group said it is selling two renewables focused businesses — American Hydro Corporation and Ynfiniti Engineering Services — for up to £36.7 million.
Both sales — part of Weir’s ongoing £100 million asset disposal programme — are expected to be completed by June 30.
These businesses made combined revenues of £38 million and operating profit of £1.4 million in 2015.
Weir will record a loss on the disposals of £5 million.
Weir also said trading in April and May was in line with expectations and that orders for the five months to the end of May were 15% below the prior year period.
“There is no change to the group’s prior full-year guidance as outlined on 28 April 2016,” said Weir.
Weir said it update the market on its full year expectations at its interim results on July 28.