Weir Group said it had bought Carriere Industrial Supply Limited, which makes and distributes parts and aftermarket service to the Canadian mining industry for £20m.
Its products, which include mining buckets and lip systems, help customers increase productivity through reduced downtime and improved safety.
CIS will become party of Weir’s ESCO Division and 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, the company said on Monday.
