RCS - Weir Group PLC - Weir opens new foundry in China

WeirAnnouncement

13/03/2024 10:45

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RNS Number : 6985G  Weir Group PLC  13 March 2024

Weir opens new foundry in China

The Weir Group, a global mining technology leader, has officially opened its
new foundry in Xuzhou, China. The foundry, which is part of Weir's ESCO global
foundry network, expands capacity for the manufacture of ESCO(®) ground
engaging tools, or GET, in line with continued growth opportunities.

The opening ceremony, hosted by Weir's CEO Jon Stanton, was attended by a
Senior Leadership Team from Xuzhou Hi-Tech Industry Zone and other members of
Weir and its ESCO division from China and across the globe.

Occupying a 16.5-acre site in Xuzhou's High-Tech Industrial Zone, the new
foundry features the very latest technology and equipment, incorporating high
levels of automation. These enable us to optimise capacity and enhance our
foundry processes, improving efficiency and further reducing cost of
manufacture, aligned with the goals of our Performance Excellence
transformation programme. It strengthens our global foundry network, ensuring
we remain highly responsive to customers' needs.

The new foundry represents a $60m investment and will replace our existing
foundry that is located close by.  Staying in Xuzhou allows us to capitalise
on our culture of continuous improvement and sustainability, resulting in
consistently high performance in process control, safety, employee engagement
and on time delivery. We are pleased to retain our highly skilled and loyal
workforce - many of whom have been with us since we began foundry operations
in Xuzhou in 2006.

The new foundry has been designed to produce a wider range of our proprietary
GET products, including larger sized components, enabling the manufacture of
more product types in a more cost-effective way. It expands our foundry
capacity in China by over 30% and provides additional flexibility across our
global network to best serve our customers around the world.

Speaking at today's official opening, Jon Stanton, CEO of Weir said:

"The opening of our new foundry in Xuzhou is a significant strategic milestone
for Weir. I'd like to congratulate our project team in Xuzhou who have
designed and built what we expect to be the safest, most efficient, most
sustainable, most advanced foundry within our global network. I'd also like to
thank our partners throughout the Xuzhou government for their time and
experience to help deliver this important project."

"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."

Further information

View a video introducing the new ESCO foundry:
https://www.global.weir/investors/capital-markets-event-2023/
(https://www.global.weir/investors/capital-markets-event-2023/)

Learn more about ESCO's GET technology: https://www.global.weir/brands/esco/
(https://www.global.weir/brands/esco/)

 Enquiries:
 Investors: Edward Pears   +44 (0) 141 308 3725

 Media: Sally Jones        +44 (0) 141 308 3666

 Citigate Dewe Rogerson:   +44 (0) 207 638 9571

 Kevin Smith               Weir@citigatedewerogerson.com (mailto:Weir@citigatedewerogerson.com)

 

About The Weir Group PLC

Founded in 1871, The Weir Group PLC is one of the world's leading engineering
businesses with a purpose to make its mining and infrastructure customers'
operations more sustainable and efficient. Weir's highly engineered technology
enables critical resources to be produced using less energy, water and waste
while reducing customers' total cost of ownership. The Group is ideally
positioned to benefit from structural trends that support long-term demand for
its technology including the need for more essential metals to support
economic development and carbon transition. The Group has c.12,000 employees
operating in over 50 countries with a presence in every major mining region of
the world. Find out more at www.global.weir (http://www.global.weir) .

 

Weir's ordinary shares trade on the London Stock Exchange (ticker: WEIR LN)
and its American Depositary Receipts trade over-the-counter in the USA
(ticker: WEGRY).

 

 

About Weir ESCO

Weir ESCO(®) designs, manufactures and services mission-critical equipment
used by companies in mining and infrastructure markets. Backed by more than
100 years of experience in the science of metals, alloys and wear materials,
ESCO attachments and wear parts are recognised as industry-leading and
innovative products. ESCO custom-engineered solutions enhance customer safety,
improve productivity and provide customers a superior total cost of ownership.
Its global sales and support network enables availability and service in all
key markets.

 

 

 

 

 

 

 

 

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