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Weir Oil & Gas upstream business showcased to investors
Investors on both sides of the Atlantic were given a detailed overview of Weir Oil & Gas upstream business in June. Nearly 90 institutional investors and sell- side analysts attended a Capital Markets presentation in London on June 21. A week later, another presentation for 15 investors, combined with a site visit to illustrate the part Weir equipment plays in the recovery of oil from shale formations, took place at Weir SPM in Fort Worth. The events provided an overview of the operations, markets and medium term outlook of Weir businesses serving the upstream sector.
The presentations spelled out the company’s strengths in the pressure pumping equipment market. Keith Cochrane, Steve Noon, managing director of the Oil & Gas Division, together with outgoing SPM President Gavin Nicol and the rest of the Weir SPM management team took investors through the underlying trends in the oil and gas shale markets, outlining the business’s market leadership position in one of the fastest growing upstream oil and gas sectors. A video animation
presented his view on the outlook for the pressure pumping market over the next four years. Richard Spears, of Spears and Associates Inc, explained how the growing recovery of oil and gas from shale formations would increase demand for pressure pumping equipment. Investors heard how growth in the
installed equipment base, together with the rising intensity of operations, drives further aftermarket opportunities and accelerates the replacement of original equipment. Keith Cochrane highlighted the positive fundamental conditions underpinning the medium term outlook for Weir’s upstream business and outlined the plans being developed to expand capacity to support the ongoing growth of the business.
took attendees through the process of hydraulic fracturing, explaining the crucial part played by Weir equipment in recovering oil and gas. One of the world’s leading independent oil and gas consultants
The London event prompted strong media coverage, with The Times newspaper concluding that ‘…the company is well poised to serve a growing market. SPM provides about 22 per cent of group revenues. The shares are on a hefty 15-plus times future earnings, but the SPM story has further to go’.
New Chinese Assembly Centre for GEHO®
pumps
Weir Minerals Netherlands has officially opened an assembly centre for its
GEHO®
pumps are world market and technological leaders in piston and piston diaphragm pumps, suitable for handling a wide range of slurry and paste applications.
pumps brand in Taicang, China. Taicang is a well developed industrial zone near Shanghai. GEHO®
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The new centre strengthens the company’s presence in the strategically important Chinese market and brings it closer to a growing number of customers. Weir Minerals’ stringent component
selection and supply chain is optimised to suit the needs of the Chinese market, ensuring the highest quality standards and Weir’s safety and environmental standards are applied at all times.
The Taicang facility will also enhance customer relationships by ensuring quick spare parts supply and excellent services for the installed base of some 200 industrial GEHO®
pumps in China.
The facility, which has been operational since January 2011, will make a positive contribution to realising Weir’s ambitions for growth in China.
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