REG - Weir Group PLC - Weir awarded £25m contract

WeirAnnouncement

30/09/2024 07:00

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RNS Number : 1616G  Weir Group PLC  30 September 2024

30 September 2024

Press Release

Weir awarded £25m contract for separation solutions at two greenfield
projects in Morocco

The full order, which includes a range of both WARMAN(®) slurry pumps and
CAVEX(®) hydrocyclones, will be recognised in Q3 2024.

The Weir Group PLC (Weir), a global mining technology leader, has been awarded
a £25m contract to provide industry-leading energy efficient, sustainable
solutions to the next phase of OCP Group's Benguerir and Louta greenfield
phosphate projects in Morocco. The order will support the continued
construction of the Louta project and the trebling of production from the
Benguerir project, where Weir has previously provided similar separation and
desliming solutions also based on our market leading WARMAN(®) slurry pump
and CAVEX(®) hydrocyclone technology. The Benguerir expansion will start up
following the initial phase of the project which has scheduled first
production in 2024, with an estimated total mine life of more than 100 years.

The £25m contract award will be recognised in the order book during the
remainder of Q3 2024. After commissioning of the equipment, aftermarket
support will be provided via Weir technical experts from our Moroccan service
centre, which is located close to the projects.

The receipt of orders associated with the contract award does not result in a
change to Weir's full year 2024 financial guidance as of 30 July 2024.

Commenting on the contract award, Jon Stanton, Chief Executive Officer of Weir
said:

"We are pleased to have secured this major contract. It represents a strong
endorsement of our WARMAN(®) and CAVEX(®) ranges that provide energy
efficient separation at scale to support our customer's productivity and
sustainability goals. Along with our industry-leading solutions, we promise
our customers world class service; our local team are delighted to continue to
deliver for OCP as they commission the initial phase at Benguerir and look to
expand these exciting projects."

 Enquiries:
 Investors: Phil Carlisle  +44 (0) 141 308 3617

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

 Citigate Dewe Rogerson:   +44 (0) 20 7638 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. Weir 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).

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