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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.
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