Weir contributes £2million
Weir contributes £2million to Technology and Innovation
Centre
The Weir Group PLC, a global engineering solutions provider,
announces that it is creating a dedicated research facility, The
Weir Advanced Research Centre (WARC) to be located in The
University of Strathclyde's newly established Technology and
Innovation Centre (TIC) in Glasgow, which has been launched today
by Alex Salmond, Scotland's First Minister.
The establishment of the WARC marks the launch of a new approach
to innovation for Weir and is expected to provide a pipeline of new
product innovation and significant improvements in existing product
performance. Weir will fund the centre with an initial investment
of £1.9million over 3 years, with funding for year 4 onwards to be
agreed each year, creating a rolling programme. This funding
will also create four PhD studentships per year, underscoring
Weir's commitment to education and advancing engineering skills in
the UK.
Weir's chief executive, Keith Cochrane commented: "The
University of Strathclyde is a leading international technological
University and Weir is delighted to be strengthening the
long-standing partnership we have enjoyed with Strathclyde through
the creation of the WARC. We are continually looking for ways
to enhance our already strong reputation for superior products and
materials and this initiative will ensure we continue to bring
breakthrough developments to our customers."
Professor Jim McDonald, principal and vice-chancellor of the
University, said: "The creation of the WARC further strengthens the
strategic relationship Strathclyde has with The Weir Group.
The TIC will be a world-leading research and technology centre that
will transform the way that universities, business and industry
collaborate and accelerate the pace of research and development. We
are delighted that Weir is a founding partner of the TIC."
Ends
Notes to editors:
Weir
The Weir Group PLC, headquartered in Glasgow, is a global
engineering solutions provider and is represented over 70 countries
with products focussed on the minerals, oil & gas and power
markets. The Group's global brands include
Warman® pumps, SPM™ pump and flow equipment and
Hopkinsons® valves. The Group celebrates its
140th anniversary in 2011.
In the year ended 31st December 2010, the Group
reported £295m pre-tax profit and revenue of £1,635m. The
Weir Group PLC is listed on the FTSE100 index on the London Stock
Exchange.
The University of Strathclyde
The University, located in Glasgow, Scotland was established in
1796 and is committed to the advancement of society through the
pursuit of excellence in research, education and knowledge
exchange, and through creative engagement with partner
organisations at local, national and international levels. World
leading research is at Strathclyde's heart and industrial relevance
is a defining characteristic. Strathclyde's Engineering faculty is
the largest and best rated in Scotland in terms of research power
and is rated in the top five in the UK for some of its
disciplines.
This announcement is available on www.weir.co.uk.
Enquiries:
Vicky Ferrier
Head of Investor Relations and Communications, The Weir Group
PLC
Tel: +44 141 637 7111
Kat Hannah
Corporate Communications Manager, University of
Strathclyde
Tel: +44 141 548 4123
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