Weir has entered right into a binding settlement to accumulate US-based companies Townley Engineering and Manufacturing Co., Inc. and Townley Foundry & Machine Co., Inc. (Townley), a producer of engineered merchandise for minerals processing, for an enterprise worth of round $150 million.
The acquisition will, the corporate says, strengthen Weir’s market channels and manufacturing footprint in North America, together with within the enticing phosphate market, a key mineral in fashionable fertilisers, important for international meals safety and accessibility.
Based in 1963, Townley is a number one supplier of mining put on and abrasion options with an intensive product vary together with slurry pumps, dredge pumps, forged foundry merchandise, valves, urethane elements, hoses and rubber linings. Townley’s operations, which embody a foundry, and urethane and rubber merchandise manufacturing, are primarily based in Ocala, throughout the phosphate mining area of north-central Florida. These operations additionally serve Townley’s in depth department service community throughout the US, in addition to distributor companions in Canada and Central America.
Townley’s footprint of strategic areas will improve Weir’s present North American channels to market and supply entry to new clients, it says. Its in-region manufacturing capabilities will allow Weir to drive additional localisation and lead-time discount inside North America, aligning strongly with buyer wants.
Jon Stanton, Chief Government of Weir, stated: “The acquisition of Townley will considerably improve our geographic presence in North America, enabling us to serve clients within the area extra successfully and sustainably. It enhances our home manufacturing platform and strengthens Weir’s place within the enticing marketplace for phosphate, an vital mineral within the fertilisers which are wanted to assist inhabitants progress.
“Townley is a extremely complementary addition to Weir. We’re trying ahead to welcoming the crew of greater than 360 colleagues to Weir and are excited by the chance to mix our experience to reinforce productiveness and sustainability for our clients.”
The transaction is anticipated to finish within the September quarter of 2025, topic to the customary US antitrust approvals. Put up-completion, the enterprise can be built-in into the North American area throughout the Minerals division.
