The Weir Group PLC

Equities

WEIR

GB0009465807

Industrial Machinery & Equipment

Market Closed - London S.E. Other stock markets 11:35:19 2024-04-26 am EDT			5-day change	1st Jan Change
2,010 ^GBX	+2.19%		+1.52%	+6.55%

Apr. 25	The Weir Group plc Approves Final Dividend	CI
Apr. 25	Weir Group to meet annual expectations as quarterly output ticks up	AN

Weir opens USD60 million high-tech foundry in China

March 13, 2024 at 07:42 am EDT

(Alliance News) - Weir Group PLC on Wednesday announced the official opening of its new USD60.0 million foundry in Xuzhou, China.

The Glasgow, Scotland-based mining technology company's new site occupies 16.5-acres in Xuzhou's High-Tech Industrial Zone and features "the very latest technology and equipment, incorporating high levels of automation."

The facility expands the company's capacity in China by over 30% and is expected to reduce costs by enhancing processes, optimising capacity, and improving efficiencies.

Weir's Chief Executive Officer Jon Stanton said: "This investment demonstrates our commitment to long-term presence and economic contribution in Xuzhou, ensuring Weir drives further efficiency and sustainability in our operations while supporting our continued growth as supplier of premium mining GET technology to customers worldwide."

Shares in Weir fell 1.2% to 1,910.00 pence in London on late Wednesday morning.

By Elijah Dale, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about The Weir Group PLC

The Weir Group plc Approves Final Dividend	Apr. 25	CI
Weir Group to meet annual expectations as quarterly output ticks up	Apr. 25	AN
Transcript : The Weir Group PLC, Q1 2024 Sales/ Trading Statement Call, Apr 25, 2024	Apr. 25
Weir Group Records Higher Q1 Orders, Affirms Outlook	Apr. 25	MT
The Weir Group plc Provides Earnings Guidance for the Year 2024	Apr. 25	CI
UBS Downgrades Weir to Neutral from Buy, Reduces PT	Mar. 20	MT
UBS raises Halma; cuts Spirax-Sarco and Weir	Mar. 20	AN
FTSE 100 Closes Down 0.4% After Rise in U.S. Inflation Data	Mar. 14	DJ
UK's Weir Group Launches New Foundry in China	Mar. 13	MT
Weir opens USD60 million high-tech foundry in China	Mar. 13	AN
The Weir Group PLC Opens New Foundry in China	Mar. 13	CI
Jefferies says buy BP; UBS says buy Compass	Mar. 04	AN
FTSE 100 Edges Higher on Leap Day, Boosted by Howden Joinery, Haleon Gains	Feb. 29	DJ
Weir lifts dividend as annual profit and revenue surge	Feb. 29	AN
Transcript : The Weir Group PLC, 2023 Earnings Call, Feb 29, 2024	Feb. 29
Weir Group Posts Higher FY23 Attributable Profit, Revenue	Feb. 29	MT
The Weir Group PLC Provides Earnings Guidance for the Year 2024	Feb. 29	CI
The Weir Group PLC Recommends Final Dividend for the Year 2023, Payable on 31 May 2024	Feb. 29	CI
The Weir Group PLC Reports Earnings Results for the Full Year Ended December 31, 2023	Feb. 29	CI
EMEA Morning Briefing : Stocks Seen Higher Ahead of U.S. PCE Inflation Data	Feb. 29	DJ
Weir appoints National Grid finance chief as a director	Feb. 27	AN
The Weir Group PLC Announces Board Changes	Feb. 27	CI
FTSE 100 Closes Up 0.9%, Lifted by BP	Feb. 06	DJ
The Weir Group plc Announces Establishment of New Board Committee and Board Changes	Dec. 19	CI
Goldman likes Sainsbury's; RBC cuts Imperial	Dec. 08	AN

Chart The Weir Group PLC

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Company Profile

The Weir Group PLC is one of the world's leading suppliers of products and services for the mining, infrastructure and construction industries. Net sales break down by activity as follows: - mining and mineral processing equipment (72%): crushing and grinding equipment, pumps, valves, handling equipment, etc. marketed under the Warman® Centrifugal Slurry Pumps, GEHO® Positive Displacement Pumps, Enduron® High Pressure Grinding Rolls, Cavex® Hydrocyclones and Linatex® Resistant Rubber brands; - ground engaging tools and equipments (28%): ESCO and Bucyrus Blades brands. Net sales break down by source of revenue between sales of aftermarket parts (73.9%), sales of original equipment (18.4%), sales of services (5.7%) and other (2%). Net sales are distributed geographically as follows: the United Kingdom (1.4%), Europe (7.3%), South America (21.9%), the United States (16.9%), Canada (15.3%), Australasia (13.6%), Middle East and Africa (11.9%) and Asia/Pacific (11.7%).

Sector

Industrial Machinery & Equipment

Calendar

2024-07-29 - Q2 2024 Earnings Release (Projected)

Related indices

STOXX EUROPE 600 (EUR) , FTSE 100

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Ratings for The Weir Group PLC

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ESG Refinitiv

A-

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Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

20.1 GBP

Average target price

22.6 GBP

Spread / Average Target

+12.45%

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