Weir to acquire Fast2Mine
Summary by AI BETAClose X
Weir to acquire Fast2Mine, a Brazilian based mining software provider
Weir has entered into a binding agreement to acquire Fast2 Mine Tecnologia e Desenvolvimento de Sistemas Ltda. Fast2Mine is a software provider to the mining industry, with a focus on mine management solutions (MMS). The acquisition complements Micromine's existing suite of mine planning and mine control software and has no impact on Weir's full year guidance as of 31 July.
Fast2Mine is a Brazil-based mining software provider offering a contemporary MMS. Its technology helps miners with material management, mine optimisation, short-interval control, fleet management, and select asset health diagnostics. Fast2Mine's robust platform is offered as a SaaS solution comprising of four modules designed around a modern, web-native interface that prioritises ease of use while delivering advanced reporting functionality. The platform currently services 84 mines across multiple commodities and countries, such as Brazil, Chile, Argentina, Mexico, Guyana, and Liberia.
Fast2Mine's MMS platform is highly complementary to Weir's growing software portfolio, joining Micromine's software suite to provide comprehensive mine management solutions for both open-pit and underground mining operations. The acquisition will accelerate Weir's strategy to provide leading software solutions to the mining industry.
The acquisition does not result in a change to Weir's full year revenue, operating profit, and leverage guidance as of 31 July 20251.
Jon Stanton, Chief Executive Officer said:
"The acquisition of Fast2Mine will accelerate our expansion into the South American mining software market, providing a strong and immediate presence in Brazil, home to some of the world's largest mineral deposits.
Fast2Mine's software platform is a highly complementary addition to Weir's mining software suite, including meaningful synergies with Micrormine's Alastri open pit mine planning solution and adjacency with Micromine's Pitram underground fleet management solution. We are looking forward to welcoming Fast2Mine to Weir and are excited by the opportunity to further accelerate our vision for digitally enabled mine optimisation."
Notes:
1. Management expects net debt/EBITDA below 2x at 31 December 2025.
Disclaimer
This information includes 'forward-looking statements'. All statements other than statements of historical fact included in this presentation, 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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