The Weir Group PLC (“Weir”) is pleased to announce it has agreed to acquire the CH Warman Pump Group (“CHW”), a specialist pump business primarily focused on serving the mining and minerals processing industry throughout Africa, from Research and Development Pty Limited and CH Warman Holdings Pty Limited.

The consideration for the purchase will be US$231m (£113m) payable in cash on completion. In addition Weir anticipates assuming approximately US$ 2m (£1m) of net indebtedness. Completion is conditional on the approval of the South African competition authorities and, subject to such approval, is expected to take place in the first quarter of 2008. The acquisition is expected to be immediately earnings enhancing for Weir and to generate a return in excess of the Group’s cost of capital within three years.

Download the full Press Release: PressReleaseCHW.pdf [36 KB]

Download the Analysts Presentation: AnalystsPackCHW.pdf [944 KB]