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United Kingdom

Weir Group PLC (WEIR.L)

WEIR.L on London Stock Exchange

1,628.50GBp
22 Feb 2019
Change (% chg)

-12.50 (-0.76%)
Prev Close
1,641.00
Open
1,637.50
Day's High
1,663.00
Day's Low
1,617.50
Volume
1,102,015
Avg. Vol
1,217,640
52-wk High
2,333.00
52-wk Low
1,222.50

Latest Key Developments (Source: Significant Developments)

Centrica Appoints Charles Berry Chairman Designate
Wednesday, 31 Oct 2018 

Oct 31 (Reuters) - Centrica PLC ::CENTRICA PLC - DIRECTORATE CHANGE.CENTRICA PLC - ANNOUNCES APPOINTMENT OF CHARLES BERRY AS A DIRECTOR AND CHAIRMAN DESIGNATE.CENTRICA PLC - CHARLES BERRY IS CHAIRMAN OF WEIR GROUP.CENTRICA PLC - CHARLES SUCCEEDS RICK HAYTHORNTHWAITE WHO ANNOUNCED IN MAY 2018 HIS INTENTION TO STEP DOWN DURING COURSE OF NEXT 12 MONTHS.CENTRICA PLC - BERRY WILL BECOME CHAIRMAN ON 21 FEBRUARY 2019.  Full Article

Weir Group to buy Esco Corporation in $1.28 billion deal
Thursday, 19 Apr 2018 

April 19 (Reuters) - Weir Group PLC ::WEIR HAS ENTERED INTO A BINDING AGREEMENT TO ACQUIRE ESCO CORPORATION ("ESCO"), A US COMPANY BASED IN PORTLAND, OREGON, FOR AN EQUITY VALUE OF US$1,051M AND AN ESTIMATED ENTERPRISE VALUE OF US$1,285M..IN 2017 ESCO DELIVERED REVENUES OF US$632M AND PRO FORMA ADJUSTED EBITA OF US$68M..ESCO SHAREHOLDERS WILL RECEIVE 59% IN CASH, PART FUNDED FROM NET PROCEEDS FROM A 7.4% EQUITY PLACING OF WEIR SHARES VIA AN ACCELERATED BOOKBUILD..THEY WILL ALSO RECEIVE 41% PAID IN NEW WEIR SHARES, CALCULATED AT COMPLETION AND CURRENTLY REPRESENTING C.6% OF ENLARGED WEIR SHARE CAPITAL.ESCO BOARD HAS UNANIMOUSLY APPROVED TRANSACTION AND SUPPORT HAS BEEN RECEIVED FROM REQUIRED MAJORITY OF ESCO SHAREHOLDERS..BOARD OF WEIR WILL INITIATE A PROCESS TO SELL FLOW CONTROL DIVISION. THIS PROCESS WILL FOCUS ON MAXIMISING VALUE FOR SHAREHOLDERS, WITH ALL OPTIONS TO BE CONSIDERED AND NO FIXED TIMETABLE.PROCEEDS WILL BE USED TO FURTHER REDUCE LEVERAGE AND TO FUND FUTURE INVESTMENT IN GROWTH IN OUR CORE PLATFORMS..  Full Article

Weir Group Says Q1 Orders Up 22 Pct
Thursday, 19 Apr 2018 

April 19 (Reuters) - Weir Group PLC ::Q1 ORDERS +22%; ALL DIVISIONS AHEAD OF PRIOR YEAR.FULL-YEAR CONSTANT CURRENCY EXPECTATIONS UNCHANGED.Q1 MINERALS ORDERS +13% WITH STRONG DEMAND FOR BOTH ORIGINAL EQUIPMENT AND AFTERMARKET.Q1 OIL & GAS ORDERS +50% DRIVEN BY PRESSURE PUMPING DEMAND IN NORTH AMERICAN SHALE.WEIR GROUP - FY DIVISIONAL EXPECTATIONS ARE UNCHANGED, WITH DIVISION ANTICIPATED TO DELIVER MODERATELY HIGHER CONSTANT CURRENCY REVENUES.  Full Article

Weir Group Says To Place 16 Mln Shares To Fund ESCO Deal
Thursday, 19 Apr 2018 

April 19 (Reuters) - Weir Group PLC ::INTENTION TO CONDUCT A PLACING OF UP TO 16 MILLION NEW ORDINARY SHARES IN CAPITAL OF COMPANY TO INSTITUTIONAL INVESTORS.PLACING SHARES REPRESENTS UP TO APPROXIMATELY 7.4% OF EXISTING ISSUED ORDINARY SHARE CAPITAL.NET PROCEEDS OF PLACING ARE INTENDED TO FUND CASH COMPONENT OF ACQUISITION CONSIDERATION.BOOKBUILD WILL OPEN WITH IMMEDIATE EFFECT FOLLOWING THIS ANNOUNCEMENT.  Full Article

Weir Group gives ‍preliminary assessment of impact of US tax reform legislation
Thursday, 11 Jan 2018 

Jan 11 (Reuters) - Weir Group Plc ::‍PRELIMINARY ASSESSMENT OF IMPACT OF US TAX REFORM LEGISLATION​.‍NOTES RECENTLY ENACTED TAX CUTS AND JOBS ACT (ACT), WHICH CAME INTO EFFECT ON 1 JANUARY 2018​.MEASURES INCLUDED IN ACT ARE LIKELY TO GIVE RISE TO INITIAL ONE-OFF NON-CASH TAX CREDIT IN 2017.FROM 2018 FAVOURABLE IMPACT OF HEADLINE FEDERAL RATE REDUCTION IS LIKELY TO BE LARGELY OFFSET BY GREATER RESTRICTION ON LEVEL OF INTEREST DEDUCTION ALLOWED IN US​.  Full Article

Weir says Q3 ‍oil & gas orders up 59 pct
Tuesday, 31 Oct 2017 

Oct 31 (Reuters) - Weir Group Plc ::WEIR GROUP PLC - Q3 ‍OIL & GAS ORDERS INCREASED 59% LEVERAGING DIVISION'S MARKET LEADING PRESSURE PUMPING POSITION​.WEIR GROUP PLC - ‍WE ANTICIPATE STRONG GROWTH IN FULL YEAR CONSTANT CURRENCY REVENUES AND PROFITS​.WEIR GROUP PLC - ‍Q3 ORDERS WERE 21% HIGHER THAN PRIOR YEAR PERIOD​.WEIR GROUP PLC - ‍NET DEBT AT 30 SEPTEMBER 2017 WAS HIGHER THAN THAT REPORTED AT 30 JUNE 2017 BUT IN LINE WITH NORMAL SEASONAL PATTERNS​.  Full Article

Weir Group close to selling unit for about $390 mln -source

Jan 31 Engineering company Weir Group Plc is close to selling a unit, which supplies pumps and valves to power and oil and gas industries, for more than 300 million pounds ($390 million), a source with knowledge of the matter told Reuters.