The Weir Group acquired Delta Industrial Valves, a Niles, Mich.-based U.S. manufacturer of knife gate valves for the mining and oil sands markets, as well as other related industries.
The acquisition expands Weir Minerals’ presence in the mining and oil sand markets with Delta’s portfolio of valve products for the transportation of slurry.
According to Weir, the transaction will be immediately earnings accretive, and post-tax returns are anticipated to exceed its cost of capital in the first year of ownership.
“Weir is a global leader in process critical products in the mining and oil sands markets and the acquisition of Delta further strengthens our comprehensive offering to customers,” says Keith Cochrane, chief executive of the Weir Group. “Delta’s strong brand and reputation, together with Weir’s global capability, mean we will be able to offer our customers new ways to increase efficiency at a time when the industry is focused on reducing costs and increasing productivity.”
Mark Johnson, vice president of Delta, looks forward to a wider distribution of Delta’s products.
“We are delighted that Delta will be joining one of the world’s leading engineering businesses,” says Johnson. “Delta will be able to take advantage of Weir’s presence in more than 70 countries, bringing our valves technology to customers all over the world. We see significant opportunities ahead in what remain long-term growth markets.”
The Weir Group, headquartered in Glasgow, Scotland, is an engineering business that designs, manufactures and services innovative solutions that help make minerals, oil and gas more efficient.
