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Weir Group PLC (WEIR.L)

WEIR.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Weir Group says full year profits to be in line expectations
Thursday, 27 Apr 2017 02:14am EDT 

April 27 (Reuters) - Weir Group Plc ::Weir group plc interim management statement for period to 26 april 2017.Full-Year profits anticipated to be in line with current market expectation.Q1 order input grew 15%.Q1 minerals aftermarket orders increased 13%; original equipment was up 4%.Q1 oil & gas orders rose 50% driven by significant growth in north america.Q1 flow control orders fell 11%; downstream and power markets continued to be challenging.Net debt at 31 March 2017 was higher than that reported at 31 december 2016.Q1 revenues, on a constant currency basis, were in line with expectations and slightly higher than q1 of 2016.Says group remains confident of delivering strong underlying cash generation in 2017.Assuming oil prices remain at or above current levels, see strong increase in constant currency divisional revenues slightly ahead of prior guidance.  Full Article

Weir Group appoints Geetha Dabir CTO
Wednesday, 22 Feb 2017 02:05am EST 

Weir Group Plc : appointment of chief technology officer .Appointed Geetha Dabir to its group executive in new position of chief technology officer..  Full Article

Weir Group to relocate Delta Industrial valves manufacturing ops to Missouri
Monday, 23 Jan 2017 03:56am EST 

Weir Group Plc : Has decided to relocate its delta industrial™ valves manufacturing operations to an existing manufacturing facility in st, louis, missouri . Decision to move was necessitated by substantial expansion plans of delta industrial valves over next two years . Relocation will enable development and enhancement of product line to better serve industries in which it operates .Move will commence in june, 2017.  Full Article

Weir names insider John Heasley as new CFO
Monday, 3 Oct 2016 02:01am EDT 

Weir Group Plc :John heasley appointed weir group chief financial officer.  Full Article

Weir Group H1 profit befor tax down 25 pct
Thursday, 28 Jul 2016 02:43am EDT 

Weir Group Plc : Weir group plc today reports its interim results for six months up to 30 june 2016. . First half performance ahead of market expectations . Oil & gas remains cash generative but margins below break-even, reflecting tough market conditions. . Group-Wide £50m of annualised cost reductions announced in 2016 on track: . cumulative annualised savings of £160m since q4 2014. . Up to £100m asset disposal programme progressing to plan: £46m achieved by end of july . Board changes: keith cochrane to be succeeded as ceo by jon stanton from 1 october 2016 . Our full year guidance for a reduction in constant currency group operating profits is unchanged . First half performance ahead of market expectations, constant currency full year guidance unchanged. . Robust minerals performance: margins and profits up; record quarterly aftermarket revenues in q2. . Improved flow control: margins and profits up, benefiting from strong cost control. . Net debt/ebitda(2) of 2.8x, expected to fall during h2 despite forex movements. .Substantial progress in innovation agenda: £38m in revenues from new products..  Full Article

Weir names Jon Stanton as chief executive designate
Thursday, 28 Jul 2016 02:00am EDT 

Weir Group Plc : Appointment of Jon Stanton as chief executive designate, succeeding Keith Cochrane with effect from 1 october 2016 .Jon Stanton to succeed Keith Cochrane as chief executive of Weir Group Plc.  Full Article

Weir Group COO to step down from board on Sept 30
Thursday, 30 Jun 2016 02:27am EDT 

Weir Group Plc : Directorate change . Dean Jenkins, chief operating officer will step down from board of group on Sept. 30 .Dean's employment with group will cease on Dec. 31.  Full Article

Finland's Wartsila buys American Hydro from Weir
Thursday, 23 Jun 2016 01:56am EDT 

Wartsila Oyj Abp : says has acquired the U.S. and Canada based company Weir American Hydro from the Weir Group plc with effect from 30 June . American Hydro is a leading supplier and installer of large equipment upgrades and servicing for the hydroelectric and water distribution industries, specializing in consultancy, design and precision performance enhancements for hydro-turbines and pumps . company currently employs 241 people, with net sales of USD 45.6 million in 2015Further company coverage: [WRT1V.HE] (Helsinki Newsroom) ((news@reuters.fi; +358 9 6805 0244)).  Full Article

Weir Group Plc says cost-cutting efforts by eliminating 400 more jobs - Reuters
Monday, 2 Nov 2015 11:20pm EST 

Weir Group Plc:Weir Group Plc expects its revenue to recover from recent decline as customers are forced to replace parts, but said it would continue its cost-cutting efforts by eliminating 400 more jobs - RTRS.The company, which has cut its workforce in its North American oil and gas operations by more than a third in the last 12 months amid sliding oil prices, reported a fall in its third-quarter revenue and operating margins - RTRS.The company said cost-cutting in the quarter would lead to the loss of 400 more jobs as business in its North American oil and gas and African mining operations suffered - RTRS.  Full Article

Weir Group PLC declares dividend
Thursday, 30 Jul 2015 02:01am EDT 

Weir Group PLC:Says it has decided to hold the interim dividend flat at 15.0p.Says the interim dividend will be paid on Nov. 6 to shareholders on the register on Oct. 9.  Full Article

More From Around the Web

Weir Group's Q1 orders rise as drilling activity picks up

April 27 Weir Group Plc, a maker of pipes and valves for energy and mining industries, said like-for-like order input for its oil and gas unit rose 50 percent in the first quarter, helped by increased drilling activity in North America.