ANOTHER FIRST FOR WEIR WESTGARTH

12.03.2002

Weir Westgarth have claimed another first with the shipping of a valuable sulphate removal plant for the offshore Brasil oilfields in December.

The plant is for an FPSO owned by Single Buoy Moorings of Monaco (SBM) and, operating under contract from Petrobras, Brasil in the Roncador Field.

The topsides facilities which can process up to 90,000 barrels per day of crude oil, includes sulphate removal equipment from Weir Westgarth and water lift and injection pumps from Weir Pumps Ltd.

Weir Westgarth sales manager Gavin MacLellan said: "The sulphate removal plant from Weir Westgarth is the first installation of this technology in the offshore Brasil oilfields. The orders from ourselves and Weir Pumps were required on a fast track delivery basis to meet the first oil dates for the facility. It is another example of the ability of Weir Group companies to meet tight time schedules to fulfil the customer's requirements."

The plant was fabricated at Forsyths in the North of Scotland, who have worked on previous SRP projects with Weir Westgarth for the North Sea oil industry. The 120 tonne single lift module is the heaviest and largest unit completed by Forsyths and one of the biggest single items to be shipped from Buckie Harbour.

Sulphate removal plants are designed to remove sulphates and other divalent ions from injection water to enhance oil recovery. The removal of these ions reduces the tendency of barium sulphate and strontium sulphate scale to form, which could otherwise block the wells and the production equipment.

About Weir Group

The Weir Group PLC operates globally and serves a wide range of customers in key industrial markets. This geographic and industrial diversity serves the Group well in its specialised

engineering products and services businesses. Manufacturing and sales operations are strategically located close to the major markets, particularly in the UK, the Americas, Australasia, the Middle East and Africa.

Today, the Weir Group is a leader in many of the areas in which it operates and the current strategy is to continue to grow by focusing on businesses where significant market positions can be achieved by either organic development or acquisition.

The Group, founded in 1871 and today one of the world ’s top pumpmakers, has 9,500 employees with an extensive global network of manufacturing plants and service operations.

Financial Highlights 2000

Turnover GBP 882.9m (about EUR 1428m)

Operating profit GBP 72.9m (about EUR 118m)

Excluding goodwill amortisation

Pre tax profit GBP 61,2 (about EUR 99m)

Excluding goodwill amortisation and exceptional items

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