Transaction highlights

  • Builds on long relationship with CIS acting as ESCO distributor in Eastern Canada for many years.
  • Delivers on ESCO’s strategy to have direct sales channels in major mining markets.
  • Increases ESCO’s capability in underground hard rock mining applications.
  • Attractive commodity exposure; CIS has strong presence on gold mines and is located close to deposits of nickel and lithium.

CIS joins the ESCO Division. The acquisition will be earnings and margin accretive in year one with returns expected to exceed the Group’s cost of capital in the first full year of ownership.

Andrew Neilson, President of Weir’s ESCO Division said: “The acquisition of CIS aligns with our strategy of providing direct sales and service to our mining customers and builds on our longstanding partnership, while also enhancing our capabilities in underground hard rock mining applications.”