UK-based mining equipment manufacturer the Weir Group, has announced it has completed the acquisition of Carrier Industrial Supply (CIS), a manufacturer and distributor of highly engineered wear parts and aftermarket service provider to the Canadian mining industry.
The Weir Group said CIS's products, including mining buckets and lip systems, help customers increase productivity through reduced downtime and improved safety.
The value of the transaction was $26.01 million (£20 million), the company said, and CIS will be integrated into the Weir Group's ESCO division.
It said the transaction builds on a long relationship with CIS acting as ESCO distributor in Eastern Canada and would deliver on its strategy to have direct sales channels in major mining markets.
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."
