Weir expands ore-processing platform in mining markets

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.

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."

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.

CJ

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
James Ferguson: How bad data is driving fear of a second wave of Covid-19
UK Economy

James Ferguson: How bad data is driving fear of a second wave of Covid-19

Merryn and John talk to MoneyWeek regular James Ferguson about the rise in infections in coronavirus and what the data is really telling us.
17 Sep 2020