Cooperation Agreement

RNS Number : 6116M

Weir Group PLC

27 May 2010

 



27 May 2010

COOPERATION AGREEMENT TO GROW NUCLEAR OFFERING

The Weir Group PLC ("Weir") and Mitsubishi Heavy Industries Ltd ("MHI") have signed a cooperation agreement to jointly develop activities in the UK nuclear new build market under the brand WEIR-MHI.

Under the joint cooperation agreement, MHI will design and manufacture nuclear pumps for nuclear power generation, as well as pumping equipment across the 'conventional island' of a nuclear power plant.  Weir will provide project management, installation and commissioning and after sales, and will also be responsible for the implementation of site health, safety and environmental systems. 

The primary focus of the agreement is on the UK nuclear new build market, however the joint cooperation may extend to other locations on an agreed basis.

Keith Cochrane, Chief Executive of Weir said, "This agreement with MHI provides an excellent opportunity to further grow our nuclear offering and build and strengthen customer relationships.  MHI's considerable experience and technical expertise in the design and manufacture of pumps for nuclear power plants together with our strong position in the supply of engineered nuclear valves and aftermarket services is a compelling combination as the industry experiences a renaissance both in the UK and worldwide."

Director, Executive Vice President, General Manager, Nuclear Energy Systems Headquarters of MHI, Mr. Akira Sawa said, "Weir has extensive references and an established track record in the provision of engineering services to nuclear power stations with a strong network of services centres throughout the UK.  This cooperation will enable us to expand our pump expertise into the UK with a full lifetime offering to the nuclear pump market."

Ten sites across England and Wales have been ear-marked as potentially suitable for the building of new nuclear power stations by the end of 2025.  Other sites may be considered for development beyond 2025.

Contact details:
The Weir Group PLC
Helen Walker, Public Relations Manager	Tel. [phone] (Mobile: [phone])
Maitland	Tel. [phone]
Suzanne Bartch	(Mobile: [phone])
Rowan Brown	(Mobile: [phone])

About The Weir Group PLC

The Weir Group PLC, headquartered in Scotland, is a global leader in the design, supply and ongoing service of engineering equipment and solutions for the Mining, Oil & Gas and Power & Industrial sectors.  With annual sales of £1.4bn Weir employs 9000 people and operates in over 42 countries with manufacturing facilities in North and South America, the UK, mainland Europe, Australia, South Africa, India and China.

For further information about The Weir Group PLC and its businesses, visit www.weir.co.uk.

About Mitsubishi Heavy Industries Ltd

Mitsubishi Heavy Industries, Ltd., headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers, with consolidated sales of 2,940 billion yen in 2009.  MHI's diverse lineup of products and services encompasses shipbuilding, power plants, chemical plants, environmental equipment, steel structures, industrial and general machinery, aircraft, space rocketry and air-conditioning systems. For more information, please visit the MHI website at www.mhi.co.jp.

 

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