Weir Group PLC
26 March 2007
Statement re. Weir Pumps business
Due to our inability to agree terms, it is announced that The Weir Group PLC and
Sulzer AG have terminated their discussions in connection with the sale of the
Glasgow based business unit of Weir Pumps to Sulzer.
A number of options relative to the future plans for Weir Pumps will be
considered over the next few weeks. The most probable outcome is an investment
in a dedicated facility located in Glasgow to manufacture spares for Weir's
global markets.
As outlined prior to the approach from Sulzer, this proposal would result in the
proceeds from the disposal of the Cathcart site of approximately £25m being
reinvested in the continuing operations of Weir Pumps and to fund the already
announced retention and redundancy programmes.
Contact details:
The Weir Group PLC
Alan Mitchelson, Corporate Services Director Tel. 0141 637 7111 (switchboard);
Helen Walker, Public Relations Manager Tel. 0141 308 3739
(Mobile: 07789 032296)
Maitland Tel. 020 7379 5151
Suzanne Bartch (Mobile: 07769 710 335)
Peter Ogden
This information is provided by RNS
The company news service from the London Stock Exchange
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