Weir Group focuses on IoT as tough conditions continue

Global engineering company Weir Group has appointed its first chief technology officer as it looks to expand its Internet of Things (IoT) services.

The Scottish company has announced plans to invest an additional £7 million in its digital and innovation programmes, enabling IoT-connected products and assisting a move towards a more digital-enabled field service. 

The group said it will also prioritise expanding its skills-base to reflect the digitisation of industrial products, and will increase investment in research and development. 

To support this strategy, it has appointed Geetha Dabir, an electrical and software engineer. Dabir has held a number of leadership roles with Intel Corporation and Cisco Systems.

She joined Cisco in 2001 and held a number of senior roles during her 13-year career with the business, including vice-president and general manager of IoT applications. She joined Intel in 2014 as vice-president and general manager of its IoT Applications Ready Platform Group.

Dabir will join the group in March 2017.

The news came as the company reported a 22% fall in pre-tax profit to £170 million for the year ending 31 December. Weir’s revenue decreased by 11% to £1.8 billion, reflecting the fall in orders in its oil & gas division.

"Following a challenging and prolonged downturn, the group returned to growth in the fourth quarter of 2016 as our main markets showed signs of improvement and we benefited from our on-going investment in new technology and long-term customer relationships,” said chief executive Jon Stanton.

"In recent months I have been encouraged by macro commodity trends and the signs in our mining and oil and gas markets that point to a cyclical upturn. Our new strategic priorities will strengthen our capabilities and enable us to fully capture opportunities presented by improving markets, although there is a range of views about the precise shape of the recovery in 2017.”