IN BRIEF: Weir completes acquisition of Chilean joint venture Esel

Related news

Weir Group PLC - Glasgow-based engineering services for mining and infrastructure - Completes the acquisition of the other 50% of its joint venture in Chile. Weir first announced plans to buy all of Santiago-based ESCO Elecmetal Fundicion Ltda, known as Esel, back in December. Esel was formed in 2007 as a joint venture between Weir’s Esco division and ME Elecmetal International Inc, a metallurgical company also based in Santiago. Weir is paying £56 million for the 50% stake.

Esel makes ground engaging tools for the South American mining industry and has a foundry in Chile built in 2017. Its full acquisition allows Weir to move to a direct-to-customer model in the region, the company says. Weir says the purchase doesn’t change its financial guidance for the financial year running to July 31.

Current stock price: 3,398.00 pence, down 3.1% in London on Tuesday

12-month change: up 38%

Copyright 2026 Alliance News Ltd. All Rights Reserved.

Bids, mergers and takeovers

Ways to help you invest your money

Our investment accounts

Put your money to work with our range of investment accounts. Choose from ISAs, pensions, and more.

Need some investment ideas?

Let us give you a hand choosing investments. From managed funds to favourite picks, we’re here to help.

Read our expert tips and insights

Our investment experts share their knowledge on how to keep your money working hard across the markets.