Weir completes acquisition of ESEL
Summary by AI BETAClose X
03 March 2026
Press Release
Weir completes acquisition of ESEL
Weir has completed the acquisition of the remaining 50% share of its Chile-based joint venture, ESCO Elecmetal Fundición Limitada ("ESEL"). This follows the announcement on 12 December 2025 of our agreement to acquire ESEL, a manufacturer of high-quality ground engaging tools, strengthening Weir's direct market channels and manufacturing capabilities in South America.
Jon Stanton, Chief Executive Officer said:
"We are delighted to formally welcome ESEL into Weir following a long and successful partnership with Elecmetal. This acquisition represents an important step in strengthening our presence in South America, enabling our ESCO Division to accelerate its go‑direct strategy in this key mining market and deepen relationships with customers.
ESEL's Chilean foundry will enhance our global manufacturing footprint, increasing capacity and flexibility across our network, supported by Weir's world-class engineering and supply chain expertise. With full operational control, we are well positioned to grow market share and further reinforce Weir's leadership position across the South American market."
Integration and financial impact
ESEL will be integrated and reported within the ESCO Division.
The acquisition does not result in a change to Weir's full year revenue, operating profit, and leverage guidance as of 31 July 20251.
Notes:
1. Net debt to EBITDA is expected to be below 2.0x at December 2025 and below 1.5x by year end 2026
Disclaimer
This information includes 'forward-looking statements'. All statements other than statements of historical fact included in this release, including, without limitation, those regarding The Weir Group PLC's (the "Group") financial position, business strategy, plans (including development plans and objectives relating to the Group's products and services) and objectives of management for future operations, are forward-looking statements. These statements contain the words "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Group's present and future business strategies and the environment in which the Group will operate in the future. These forward-looking statements speak only as at the date of this document. The Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Past business and financial performance cannot be relied on as an indication of future performance.
About The Weir Group PLC
Founded in 1871, The Weir Group PLC is one of the world's leading engineering businesses with a purpose to make its mining and infrastructure customers' operations more sustainable and efficient. Weir's highly engineered technology and digital solutions enable critical resources to be produced using less energy, water and waste while reducing customers' total cost of ownership. The Group is ideally positioned to benefit from structural trends that support long-term demand for its technology including the need for more essential metals to support economic development and carbon transition. The Group has c.12,000 employees operating in over 50 countries with a presence in every major mining region of the world. Find out more at www.global.weir.
Weir's ordinary shares trade on the London Stock Exchange (ticker: WEIR LN) and its American Depositary Receipts trade over-the-counter in the USA (ticker: WEGRY).
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Enquiries: |
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Investors: Philip Carlisle |
+44 (0)141 308 3617 |
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Media: Sally Jones |
+44 (0)141 308 3666 |
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CDR: Claire de Groot
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+44 (0) 207 638 9571 weir@cdrconsultancy.com
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