The Weir Group PLC reports its interim results for the six months ended 30 June 2020
- Strong execution in uniquely challenging circumstances mitigated impact of Covid-19
- Safety of our people, customers and communities came first; TIR1 down 53%
- Fully supporting customers while taking decisive action to reduce costs and preserve cash
- Delivery of £100m Iron Bridge order on track; majority to be delivered in H2
- Resilient aftermarket (AM) demand in core mining markets reflects mission-critical technology
- Minerals orders4 -6%; AM -4% against record high H1 19, +7% sequentially on H2 19
- ESCO orders4 -17%; Covid-19 disruption to infrastructure and mining de-stocking
- Operating profit2 of £133m: mining divisions broadly flat YoY supported by cost actions
- Minerals revenues4 -4%; margins maintained at 17.3%
- ESCO revenues4 -10%; margins +190bps to 16.1%, +500bps since acquisition
- Oil & Gas revenues4 -48%; £4m operating loss2 but positive cash from operations2
- Balance sheet and liquidity remains robust
- Operating cash flow2 of £192m; Net debt/EBITDA on covenant basis 2.6x
- Refinanced main banking facilities; c.£650m of available liquidity excluding CCFF
- No interim dividend proposed due to ongoing uncertainty and to support deleveraging
- Covid-19 experience has reinforced our conviction in our strategic direction
- Mining is an essential industry with a vital and attractive role for partners like Weir
- Focus on technology investments is delivering smart, efficient, sustainable mining solutions
- Intent to maximise value from the Oil & Gas division at the right time
Source: https://www.global.weir/newsroom/news-articles/half-year-results-2020/
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Carries out rubber lining and hose making processes according to standard safety procedures. Fabricates and process metal and rubber components in accordance with specified instructions.
Reporting to the Sales Manager-Projects for the designated region, the Sales Engineer is responsible for developing and managing specific key accounts and Engineering Firm customers, while meeting sales objectives and identifying new business opportunities for Weir Minerals’ entire portfolio within the designated geographic territory.
The Rubber Product Manager is responsible for the implementation of Weir Mineral’s Rubber Products strategy in Canada and aligning their application with WMC’s Integrated Solutions strategy.
Sets up and operates conventional, special purpose, machining centers to fabricate high speed precision ground metallic parts and components with tight tolerances and exotic materials.
To ensure timely and accurate movement of all products in and around the facility.
The Field Engineer’s role will be to technically support our key oil sands customers.
Reporting to the Production Manager of the Fabrication Shop, the selected candidate will supervise workers engaged on the afternoon shif.
Perform duties required to provide strategically source and procure a wide variety of technical and non-technical materials and services from suppliers worldwide to support customer requirements.
Provides exceptional customer service to internal and external customers; receives and verifies orders for Weir products.
As part of our sales departments, the Application Engineer will work collaborative with internal departments and external stakeholders to support business development, sales of products and aftermarket services, while ensuring that customer requirements are met.