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Weir Group to Consolidate Ownership of Mining Tools JV in Chile

MT Newswires·12/12/2025 07:38:31
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07:38 AM EST, 12/12/2025 (MT Newswires) -- The Weir Group (WEIR.L) agreed to purchase the remaining 50% stake held by Elecmetal in their Chilean mining ground engaging tools joint venture, ESCO Elecmetal Fundición, for 56 million pounds sterling. The acquisition is expected to boost the mining technology company's services and foundry capacity in the South American region, as well as expand its international manufacturing portfolio, according to a Friday filing. ESCO Elecmetal Fundición will be included in Weir's ESCO division following deal completion, which is expected in the first quarter of 2026.