The Weir Group, with its strong positions in very attractive end
markets, extensive global presence and dedication to operational
disciplines, has an excellent platform for growth. We will continue
to extend the Group’s position in the Minerals, Oil & Gas and
Power sectors, all of which are high growth, long cycle markets
with positive fundamentals.
Our strategy will be delivered through sustainable self-made
growth supplemented by skilfully integrated, targeted acquisitions.
We will invest in the technology, infrastructure and people to grow
market share and our installed base of original equipment. This
will include broadening our competitive portfolio of products and
added-value services, with the emphasis on those products that will
provide a strong stream of aftermarket opportunities.
Driving growth
The immediate priority for 2010 is to extend operational
excellence beyond the factory floor, into functional areas that
have a direct impact on our ability to grow and that support our
continued drive for greater customer focus.
The Weir Commercial System will be extended complementing the
Weir Production System that has delivered such good results in
manufacturing. Both these tools contribute by sharpening customer
focus and ensuring operational efficiency.
With operational excellence prioritised throughout the business,
we will generate growth through three key drivers.
- We will drive product sales through innovation and
creativity. We will continue to take an innovative
approach to the research, testing and development of new materials
and products.
Besides taking new products to existing markets and customers, we
will proactively take our existing and developing portfolio to new
markets and customers as we seek to build market presence.
- We will support collaboration in the
form of co-operative alliances and cross-divisional initiatives to
promote our total capability for customers in all markets and to
leverage off best practice across the Group. We will continue to
build customer partnerships and add value by delivering innovative
engineering solutions, with an integrated service offering and
enhanced organisational capability.
- We will exploit and strengthen our emerging
markets footprint. Over 40% of Group revenue already
comes from developing markets in Asia, South America, Middle East
and Africa. There are significant opportunities for us to
internationalise more products through both our existing and
expanding geographical network.
