Disposal

Weir Group PLC
10 May 2007


THE WEIR GROUP PLC


10 MAY 2007



THE WEIR GROUP PLC AGREES THE SALE OF ITS INTEREST IN
DEVONPORT MANAGEMENT LTD TO BABCOCK FOR £86 MILLION


The Weir Group PLC ('Weir'), the global engineering group, announces today that
it has agreed to sell its 24.5% interest in Devonport Management Ltd (DML) to
Babcock International plc ('Babcock') for a cash consideration of approximately
£86 million.


DML was established in 1987 to run Devonport Royal Dockyard, which it then
acquired in 1997. It offers a complete range of design, build and support
solutions across both defence and commercial sectors, including nuclear
submarine refit and maintenance.


Commenting on this transaction today, Weir Group chief executive Mark Selway
said:


'Devonport Management has been a very good investment for Weir and we are
pleased to have played a part in the success of the enterprise. However,
long-term involvement in DML is not core to our strategy and a sale on the terms
agreed represents excellence value for our shareholders. This sale places the
combined Babcock and DML businesses in a primary position to achieve
consolidation of UK submarine assets.'


The profits after tax attributable to the interest disposed of by Weir for the
year 2006 were £8.1million. The gross value attributable to the assets being
disposed of by Weir was

£73 million at 31 December 2006. The disposal will lead to an exceptional profit
of approximately £50 million in Weir's 2007 accounts.


The cash proceeds will be used to continue to develop Weir's business in line
with its stated strategy to grow specialist higher margin businesses in oil,
power and mining.


The other shareholders in DML are KBR (51%) and Balfour Beatty (24.5%). The
transaction is conditional upon the approval of the Ministry of Defence and the
shareholders of Babcock. It is anticipated that the transaction will be
completed in about 60 days.








Contact details: The Weir Group PLC       0141 637 7111
Helen Walker, Public Relations Manager    0141 308 3739 (Mobile: [phone])

Maitland                                  Tel. [phone]
Suzanne Bartch                            (Mobile: [phone])
Peter Ogden                               (Mobile : [phone])






                      This information is provided by RNS
            The company news service from the London Stock Exchange