METS

Weir winds up ESCO purchase

UK-based Weir Group has completed its US$1.28 billion acquisition of US mining and construction equipment parts maker ESCO Corporation, first flagged in April this year.

Staff reporter
Weir winds up ESCO purchase

"I am delighted that ESCO has formally become part of the Weir Group," Weir Group CEO Jon Stanton said today.

"As mining markets continue to grow customers are focused on increasing production sustainably and efficiently. ESCO's premier position in surface mining complements our established leadership in materials processing, meaning together the group has a unique range of mission critical solutions from extraction to concentration, built on proprietary technology, superior wear life and supported by an unrivalled service network."

ESCO is now a new division of Weir and will report as a separate segment alongside minerals and oil and gas.

Former ESCO president and chief operating officer Jon Owens heads the new Weir business, while ex-EXCO chairman and CEO Cal Collins has joined Weir's board as a non-executive director.

 

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.