REG - Weir Group PLC - Weir completes acquisition of ESEL

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RNS Number : 0156V  Weir Group PLC  03 March 2026

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 2025(1).

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
(http://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).

 

 Enquiries:
 Investors: Philip Carlisle  +44 (0)141 308 3617
 Media: Sally Jones          +44 (0)141 308 3666
 CDR: Claire de Groot        +44 (0) 207 638 9571

                             weir@cdrconsultancy.com

 

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