The Weir Group will today hold a Capital Markets presentation for shareholders and analysts in London which will focus on the Minerals Division, providing an overview of its operations, market positioning and strong medium term outlook. Weir will also reconfirm its full year guidance for the Group overall as communicated in the Interim Management Statement of 9 May 2012.
The Minerals management team will highlight the market leadership positions in the division's core markets; its broadening and differentiated product and service offerings, and product innovation; and a number of future growth opportunities which are well developed. The division's growing installed equipment base provides the platform for profitable, high quality, aftermarket revenue growth, from both products and services. This is supported by the £1.1bn original equipment input Weir has captured since January 2010 which, as the equipment is commissioned, is expected to generate an incremental aftermarket revenue opportunity of up to £3bn over the next ten to fifteen years, underpinning the Division's ambition of doubling divisional 2011 operating profits by 2016.
Keith Cochrane, Chief Executive, will conclude the presentation by highlighting the positive fundamentals underpinning the medium and long term outlook for the mining equipment market.
A webcast of the presentation will be available on the Group's website (http://www.weir.co.uk) from 8pm on the 19(th) June.
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Source: The Weir Group PLC via Thomson Reuters ONE [HUG#1620472]
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