The Weir Group PLC (“Weir” or “the Group”), is pleased to announce that it has agreed to acquire SPM Flow Control, Inc (“SPM”) for US$653 million (£328 million). Anticipated revenues for calendar year 2007 are US$ 320 million (£161 million).

SPM, based in Fort Worth, Texas, is a leading manufacturer of high-pressure well service pumps and related flow control equipment, which operate in abrasive, high-wear applications in oil and gas drilling and extraction.

Download the full Press Release: PressReleaseSPM.pdf [102 KB]

An analysts’ meeting to discuss the acquisition was held on Thursday 21 June 2007.

Download the Analysts Presentation: AnalystsPack.pdf [970 KB]

The acquisition is conditional upon shareholder approval. This approval will be sought at an Extraordinary General Meeting to be held on 13 July 2007. Details of the proposed acquisition are set out in the Class 1 Circular.

Download the Class 1 Circular: WeirGroupCircular_SPM.pdf [179 KB]

Download Result of Extraordinary General Meeting: SPM_EGm_result.pdf [10 KB]