MIRA INFORM REPORT

Report Date :

11.04.2011

IDENTIFICATION DETAILS

Name :	WEIR MINERALS NETHERLANDS B.V.

Registered Office :	Egtenrayseweg 9, 5928PH Venlo

Country :	Netherlands

Date of Incorporation :	30.09.1994

Com. Reg. No.:	12032525

Legal Form :	Limited company

Line of Business :	Manufacturer of machinery and equipment

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Maximum Credit Limit :	€ 500.000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Netherlands

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

CONTACTINFORMATION

Company name	Weir Minerals Netherlands B.V.
Tradename	Geho Pumps
	Begemann Pumps
	Roto-Jet
	Weir Netherlands
	Weir Minerals Netherlands B.V.
Address	Egtenrayseweg 9
	5928PH Venlo
	Netherlands
Mail address	Postbus 249
	5900AE Venlo
	Netherlands
Telephone number	0773895200
Telefax number	0773824844
E-mail address	wier@weirminerals.com
Website	www.weirminerals.com
VAT number	NL802996413B01

CREDIT LIMIT

Credit limit A credit of € 500.000 may be granted

Specification credit limit The company can fulfil all its obligations. Within the context of a credit

report the credit is maximalized to the shown credit limit.

Groep consolidated BC and Pl of WEIR GROUP PLC(THE)

Clydesdale Bankers Exchange 20, Waterloo Street

G2 6DB GLASGOW

United Kingdom

Phone number +44 141 637 7111

FAX number +44 141 221 9789

Website address www.weir.co.uk

INTERNET E-MAIL address investor-relations@weir.co.uk

Date 31-12-2009 in EUR *1,000

Operating revenue (Turnover) : 1,540,749

P/L before tax : 188,392

P/L for period [=Net income] : 142,4

Cash flow : 193,036

Total assets : 1,715,322

Shareholders funds : 820,568

Current ratio (x) : 1.31

Profit margin (%) : 12.23

Return on shareholders funds (%) : 22.96

Return on capital employed (%) : 17.08

Solvency ratio (%) : 47.84

Price Earning Ratio (x) : 11.66

Number of employees : 8,805

Date 31-12-2008 in EUR *1,000

Operating revenue (Turnover) : 1,420,508

P/L before tax : 167,075

P/L for period [=Net income] : 178,912

Cash flow : 223,221

Total assets : 1,840,448

Shareholders funds : 741,207

Current ratio (x) : 1.18

Profit margin (%) : 11.76

Return on shareholders funds (%) : 22.54

Return on capital employed (%) : 15.52

Solvency ratio (%) : 40.27

Price Earning Ratio (x) : 3.80

Number of employees : 9,37

Date 31-12-2007 in EUR *1,000

Operating revenue (Turnover) : 1,446,796

P/L before tax : 155,16

P/L for period [=Net income] : 238,048

Cash flow : 270,305

Total assets : 1,673,275

Shareholders funds : 741,364

Current ratio (x) : 1.40

Profit margin (%) : 10.72

Return on shareholders funds (%) : 20.93

Return on capital employed (%) : 14.87

Solvency ratio (%) : 44.31

COMPANY STRUCTURE

Shareholder	Weir B.V.
	Egtenrayseweg 9
	5928PH VENLO
	Netherlands
	KvK: 12032531
	Active since: 05-10-1995
	Percentage: 100.00%
Ultimate parent company	Weir Group Activities of holding companies Limited
	Glasgow G2-6DB U.K.
	990001830760
Holding company	Weir B.V.
	Egtenrayseweg 9
	5928PH VENLO
	KvK: 12032531

Bankers ABN Amro Bankers NV ING Bankers NV

Real estate Unknown

The real estate is checked at the land registration office Object code: None registration type

MANAGEMENT

Management E.R. van Koert Ernst Ronald

Authorization: Limited authorization

Position: Manager

Date appointed: 07-01-2008

Date of birth: 28-06-1965

A.W.F. Mitchelson

Alan Wallace Fernie

Authorization: Fully authorized

Position: Manager

Date appointed: 06-08-2009

Date of birth: 30-03-1949

C. Zaalberg

Authorization: Fully authorized

Position: Manager

Date appointed: 19-12-2005

Date of birth: 09-04-1955

W. Giesen-Thissen Waltraud

Authorization: Limited authorization

Position: Financieel manager

Date appointed: 01 -01-2008

Date of birth: 17-03-1965

E.J.P. Alsters

Elisabeth Josephina Petronella

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 27-04-1968

M.J.G. Beurskens-Hovens

Manuela Josephina Gerarda

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 29-09-1970

G.J.H. Groetelaers

Gerardina Johanna Henriette

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 27-09-1955

P.M.J. Heuvelmans

Peter Maria Johannes

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 09-06-1968

R.W.P.A. Konisser

Roy Wilhelmina Peter Alexander

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 15-02-1974

J.P.D. van Leeuwen

Johannes Pieter Dirk

Authorization: Limited authorization

Position: Proxy

Date appointed: 21 -02-2006

Date of birth: 30-01-1958

G.P.J. Schreurs

Authorization: Limited authorization

Position: Proxy

Date appointed: 06-11-2002

Date of birth: 08-07-1966

PAYMENT INFORMATION

Payment experiences Payments are regular

Payments Based on multiple payment experiences up to € 50.000

Quarter: 3 2010: 57 Average days

Quarter: 4 2010: 48 Average days

Quarter: 1 2011: 52 Average days

Quarter: 2 2011: 52 Average days

	invoices	current quarter		2011 Q1\|		2010 Q4	2010 Q3
Total	260	100% 1.014.742		1.014.742		1.013.432	1.019.189
							1
Within terms	145	56,6%	574.148	574.148	635.664		522.885
Delayed 0 - 30	94	35,7%	362.600	362.600	333.200		362.600
Delayed 31 - 60	21	7,7%	77.994	77.994	44.568		133.704
Delayed 61 - 90
Delayed 91 - 120
Delayed 120+ days

Financial information

Auditor ernst & Young

Annual accounts there is no financial information published

Tendency not to be judged because of the absence of sufficient financial information

Liquidity More than Sufficient

History

Insteeeingsverklaringen Over bookyear 2009 a consent agreement is filed

Over bookyear 2008 a consent agreement is filed

Over bookyear 2007 a consent agreement is filed

Management Since 01-12-2010 is Proxy Alan Wallace Fernie Mitchelson out of office

Since 27-10-2009 is Proxy Gerardina Johanna Henriette Groetelaers appointed

Since 27-10-2009 is Proxy Elisabeth Josephina Petronella Alsters appointed

Since 27-10-2009 is Proxy Manuela Josephina Gerarda Beurskens-Hovens appointed

Since 27-10-2009 is Proxy Peter Maria Johannes Heuveleans appointed

Since 27-10-2009 is Proxy Roy Wilhelmina Peter Alexander Konisser appointed.

Since 31-08-2009 is Proxy Chretien Frans Joseph Reijntjes out of office

Since 06-08-2009 is Proxy Alan Wallace Fernie Mitchelson appointed

Since 06-08-2009 is Proxy Scot Allen Seith out of office.

Company structure

Weir Group Activities of holding companies Limited (990001830760)

Glasgow G2-6DB U.K.

Weir B.V. (12032531)

VENLO

Subsidiary (100%)

Weir Minerals Netherlands B.V. (12032525)

Venlo

Subsidiary (100%)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.04
UK Pound	1	Rs.72.20
Euro	1	Rs.63.40

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Handelsregisternummer	12032525
Registered in	Chamber of commerce Limburg
First registration	30-09-1994
Act of foundation	28-09-1994
Date of constitution	1966
Continuation date	30-09-1994
Last change in statutes	30-06-2006
Legal form	Besloten Vennootschap (Limited company)
Place of constitution	Venlo
Capital	250.000
Issued capital	50.000
Paid up capital	50.000
Legal form at first registration	Besloten Vennootschap

CONTACTINFORMATION

CREDIT LIMIT

COMPANY INFORMATION

COMPANY STRUCTURE

MANAGEMENT

PAYMENT INFORMATION

Financial information

History

Company structure

Unit