Announcement of settlement of legal dispute
The Weir Group announces settlement of legal dispute and CIETAC
Arbitral Award with Chinese pump manufacturers
Madison, Wisconsin, U.S.A. – 19 April 2010:
The Weir Group PLC ("Weir") announces the settlement of a
long-running legal dispute against two Chinese manufacturing
companies - Shijiazhuang Pump Industry Group Co., Ltd. ("SPGC") and
Shijiazhuang Kingda Pump Industry Group Co., Ltd. ("Kingda").
The settlement has immediate effect.
Additionally, Weir has received a formal Arbitral Award on the
matter against the two manufacturers which issued from the China
International Economic and Trade Arbitration Commission ("CIETAC"),
a Chinese arbitration tribunal of international standing, on 29
March 2010.
At one time SPGC was a manufacturing licensee of Weir for
Warman®-brand centrifugal slurry pumps and parts, but this
relationship ended in 2004. The settlement and CIETAC
Arbitral Award commits SPGC and Kingda to ensure that any
equivalent or comparable products which they may manufacture today
are not marketed, sold, used or distributed outside of China.
Furthermore SPGC and Kingda are not allowed to permit or encourage
third parties to use or distribute those products outside of
China.
Further, the announcements stipulate that SPGC and Kingda shall
immediately terminate any purchase and sales agreements, withdraw
bids for any projects, and cease the supply of Weir Licensed
Products with parties outside of China.
Alan Mitchelson, Legal and Commercial Director of The Weir Group
commented: "The Weir Group is pleased that the settlement agreement
and arbitral award will be able to give clarity to customers about
the legality of purchasing pumps and pump parts which are
manufactured in China by SPGC and Kingda."
A more detailed information addendum concerning this
announcement as well as copies of the CIETAC Arbitral Award, are
available from Dr. Malcolm Engel, Intellectual Property Manager for
The Weir Group, PLC and the Weir Minerals division,
Tel. +61 (0) 2 9934 5100 e-mail:
malcolm.engel@weirminerals.com
###
About The Weir Group PLC
The Weir Group PLC comprises three specialist divisions, each
with closely aligned independently successful companies and leading
brand name products in their own sectors.
Employing, in total, more than 8,500 people worldwide, each
division is focused on meeting the needs of customers in chosen key
sectors of mining and minerals processing, oil and gas exploration
and refining and power generation.
The success of Weir, throughout its history stretching back to
its foundations in Scotland in 1871, has been founded on the
ability to deliver engineering solutions that improve the quality,
safety and value of its customers' activities. Today, this pedigree
is demonstrated through skilled people and the exceptional new
products the Group is bringing to market.
For further information about The Weir Group PLC and its
businesses, visit www.weir.co.uk
About Weir Minerals
Based in Madison, Wisconsin, USA, Weir Minerals employs nearly
3,000 world-wide delivering end-to-end solutions for all mining,
transportation, milling, processing and waste management
activities. Weir Minerals has an advanced product range
incorporating market leading brands (such as Warman® centrifugal
slurry pumps, Geho® PD slurry pumps, Vulco® wear resistant linings,
Cavex® hydrocyclones, Floway® Pumps vertical turbine pumps,
Isogate® slurry valves, Multiflo® mine dewatering pumps, Hazleton®
specialty slurry pumps, Lewis Pumps™ vertical chemical pumps, and
Begemann® centrifugal process pumps) covering virtually any
application, in any environment. The Weir Minerals global network
ensures they are close to their customer wherever they may base
their local operations.
For more information on Weir Minerals, visit their website at
http://www.weirminerals.com/.
For more information:
Helen Walker
Group Public Relations Manager
The Weir Group PLC
Tel. +44 (0) 141 637 7111/07789 032296
e-mail: Helen.Walker@weir.co.uk
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