Company News in Brief

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The Independent Online
Weir Group, the product and services engineers, has bought five companies from Darchem, a subsidiary of William Baird: its principal businesses in the UK and two wholly-owned subsidiaries in Australia and the US, for about pounds 16m in cash. The acquisitions include Darchem Engineering, Hoyt Darchem, Expert Heat Treatments, the Hoyt Metal Company of Australia and Darchem Engineering of California. They produce insulation systems and fabricated components for use in the power, petro-chemical, aerospace and marine industries. Weir expects that the acquisitions, which operate in niche markets, will make a positive contribution to profits.

CRP Leisure, which builds stage sets for theatres, exhibitions and television, said it does not intend to bid for Waterglade International, the property developer. CRP insisted the corporate strategy set out in the announcement on 23 July would remain unchanged.

Scottish National Trust, the investment trust, is to make a third dividend payment in October of 1.8p, making 4.9p (5.8p) for the nine months to 30 June. Net asset value per income share rose to 76.7p (73.1p).