Weir Group PLC Weir awarded £25m contract

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 Media: Sally Jones Citigate Dewe Rogerson: Kevin Smith	[phone] [phone] [phone] [e-mail]

 

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.

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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