REG - Weir Group PLC - Weir completes acquisition of Townley

WeirAnnouncement

28/08/2025 17:45

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RNS Number : 1269X  Weir Group PLC  28 August 2025

28 August 2025

Press Release

Weir completes acquisition of Townley

Weir has completed the acquisition of Townley Engineering and Manufacturing
Co., Inc. and Townley Foundry & Machine Co., Inc. (combined "Townley"),
effective today. This follows the announcement on 18 June 2025 of our
agreement to acquire Townley, which is a leading manufacturer of high-quality
engineered products for minerals processing, for a sterling equivalent(1)
enterprise value of £111m (US$150m).

Jon Stanton, Chief Executive Officer said:

"We are delighted to welcome Townley to Weir. Townley is a highly
complementary addition; completing this acquisition will further strengthen
Weir's presence in North America, increasing our footprint in the attractive
phosphate market, a key mineral in modern fertilisers.

Townley's US foundry and manufacturing capabilities will enable Weir to drive
further localisation and reduce lead times within our North American markets,
aligning strongly with customer needs and completing Minerals' global casting
capacity requirements."

Integration and financial impact

Townley will be integrated and reported within the North American region of
the Minerals division, strengthening its manufacturing footprint and market
channels while further growing the service centre network in the region.

We expect Townley's revenue contribution in the current year to be c.£20m
from the period of ownership with low double digit operating profit margins;
however, this contribution does not result in a change to Weir's full year
2025 financial guidance as of 31 July 2025.

Notes:

1.             Purchase settled in USD at spot of 1.35

 

 

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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