Engineering giant Weir Group said it is expanding its presence in the mining and minerals markets through a number of agreements for crushing, grinding and screening equipment and services.
The combined upfront cost of these agreements is £7m with a similar amount expected to be invested over the next three years, said the Glasgow-based pumpmaker.
Chief Executive Keith Cochrane said: "These agreements will extend our addressable market by around £750m and represent the logical next steps in our growth strategy in minerals processing, providing access to attractive markets that we know well and can benefit from our capabilities and technology."
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Weir has signed an exclusive and perpetual licence with KHD, for control over the design, manufacture and distribution of High Pressure Grinding Rolls (HPGR) in minerals processing applications using KHD technology. KHD will receive royalty payments on equipment sales.
It has also entered the crushers market through a partnership with Taiwan's Minyu Machinery, which designs and manufactures crushing equipment.
Weir said it has completed the acquisition of Aspir, a small Australia-based centrifuge producer with innovative technology.
"Combined with Weir's existing screens and hydrocyclones portfolio, Aspir centrifuges enable Weir to provide packaged minerals classification solutions," it said.
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