March 26, 2020 / 7:36 AM / 12 days ago

BRIEF-Weir Trading In Jan, Feb In Line With Expectations Across Divisions

March 26 (Reuters) - Weir Group PLC:

* WEIR GROUP PLC - TRADING UPDATE AND IMPACT OF COVID-19

* WEIR GROUP PLC - IN CHINA WHERE OUR THREE FACILITIES ENDURED A FORCED SHUT-DOWN IN EARLY FEBRUARY WE ARE NOW BACK TO FULL OPERATING CAPACITY

* WEIR GROUP PLC - IN RECENT DAYS WE HAVE SEEN INCREASING INTERRUPTION AT SOME OF OUR OTHER OPERATIONS

* WEIR GROUP PLC - TRADING IN JANUARY AND FEBRUARY WAS IN LINE WITH OUR EXPECTATIONS ACROSS EACH OF OUR DIVISIONS.

* WEIR GROUP PLC - IN MINERALS AND ESCO, OVERALL AFTERMARKET DEMAND IN OUR MAIN MINING MARKETS HAS REMAINED ROBUST SO FAR,

* WEIR GROUP PLC - OIL & GAS HAS SEEN NORTH AMERICAN ORDER ACTIVITY START TO SLOW AS A RESULT OF LOWER OIL PRICES AND WIDESPREAD REDUCTIONS IN E&P CAPEX

* WEIR GROUP PLC - OUR 2020 GUIDANCE ISSUED ON 26 FEBRUARY IS NOW WITHDRAWN

* WEIR GROUP PLC - TAKEN DECISION TO WITHDRAW ITS RECOMMENDATION TO PAY A 2019 FINAL DIVIDEND.

* WEIR GROUP PLC - AS IN PRIOR DOWNTURNS, WE EXPECT BUSINESS TO CONTINUE TO BE HIGHLY CASH GENERATIVE

* WEIR GROUP PLC - GROUP’S LEVERAGE AT 31 DECEMBER 2019 WAS 2.4 TIMES NET DEBT TO EBITDA, AGAINST A FINANCIAL COVENANT OF 3.5 TIMES. Source text for Eikon: Further company coverage:

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