Tag Archives: ESCO

Demand for ground engaging tools leads Weir to invest in ESCO Newton plant

Mining equipment, Mining services, , , , ,

The Weir Group says it is investing an additional $15 million in its Newton manufacturing facility, in Mississippi, US, as part of a total $50-million plan to support an additional 150 jobs at the ESCO division plant.

When the investment programme is complete, employee numbers will be more than 400, a 60% increase from 2016, Weir Group said.

The Newton facility, one of Weir’s largest manufacturing operations, produces ground engaging tools for mining and infrastructure needs and was brought into the group with last year’s acquisition of ESCO. The expansion is slated to be complete by August 2019, Weir Group said.

Weir Group CEO, Jon Stanton, said: “The equipment we make in Mississippi is exported around the world and the increased demand from our mining and infrastructure customers gives us great confidence in the future.”

The Mississippi Development Authority (MDA) is providing assistance for workforce training, as well as statutory tax exemptions, according to Weir.

MDA Executive Director Glenn McCullough, Jr, said: “The Weir Group’s ESCO division with its talented employees show the world each day that global manufacturing leaders find the people and place needed for success in Mississippi. For nearly 50 years, ESCO’s workforce has enabled the company to achieve its goals by producing top-quality mining equipment used around the world, and this continued corporate investment demonstrates Weir’s commitment to doing business in our state.”

Approximately 80% of the products manufactured at the Newton facility are exported. This makes Weir’s ESCO division the world’s leading supplier of ground engaging tools for the mining industry, Weir said. The facility began operations in Newton in 1971.

Weir ESCO and Mining3 working on commercialising tramp metal detection system

Equipment maintenance, Mining equipment, Mining maintenance, Mining safety, Mining services, , , , , ,

Mining3 says an innovative tramp metal detection system – built into the bucket of mining equipment – is nearing commercialisation.

The company has been working on the new technology over the past few years subsequent to safety concerns and crusher damage caused by tramp metal such as bucket teeth, drill bits, tools and more, often remaining in mined material, it said. This can cause a loss of production and pose a significant safety threat to operators and maintainers.

Mining3 is working with Weir ESCO, an equipment metal parts manufacturer, for the incorporation of the uncrushables technology into its bucket design and will facilitate the commercialisation of the technology, Mining3 said.

“With the new patented uncrushables detection system, obstructive tramp metal can be identified and diverted before reaching the processing plant,” Mining3 said. “A pulse induction metal detector embedded inside the large steel bucket of a digging machine takes on the difficult task of detecting metal items scattered throughout the material. The system’s variable sensitivity is tuned for an object’s target size, focusing on larger, more obstructive uncrushables and allowing for the removal of smaller items further down the processing line. Further, the detection algorithm accommodates changes in ore grade and identifies the type of object.”

When metal is detected, the operator is alerted in real time, allowing for the necessary next steps – usually the dumping and diverting of the material, Mining3 said. In addition to the operator alert, the system integrates into a control centre interface and allows remote management and monitoring of the process.

The tramp metal detection approach requires minimal sensing equipment in the bucket and commercial versions will discreetly integrate the coil into the design, according to Mining3.

Successful site trials have led the project to integrate with larger and more technical machinery. Current prototypes are installed on Komatsu WA1200, Cat 992K, 993K and 994K machines operating on run-of-mine stockpiles in iron ore, gold and copper mines across the globe. Mining3’s research is now focused on deployability, robustness and optimisation, it said.

Weir strengthens mining and oil & gas ties with Flow Control sale

Bulk handling, Comminution of minerals, Equipment maintenance, Metallurgy, Mineral processing, Mining equipment, Mining mergers and acquisitions, Mining services, Water management, , , , , , , , ,

The Weir Group has entered into an agreement to sell its Flow Control division to First Reserve, a global private equity investment firm focused exclusively on energy, for an enterprise value of £275 million ($360 million).

Weir, which will receive cash for the sales, said all the way back in April 2018 that it planned to sell the division. The admission came alongside the acquisition of ESCO. The transaction remains subject to certain regulatory and other approvals, with completion expected in the June quarter, the company said.

The Flow Control division primarily provides highly engineered pumps, valves and other solutions used in power, industrial and downstream oil and gas applications, according to Weir.

Weir said: “Once this transaction completes, on a pro forma basis, more than 80% of Weir’s revenues will be from attractive aftermarket-intensive mining and upstream oil and gas markets.”

Weir Group CEO, Jon Stanton, said: “The decision to sell Flow Control is part of Weir’s recent portfolio transformation which focuses the group on where we can maximise long-term value – building on our strong global leadership positions in mining and upstream oil and gas markets.”

Jeff Quake and Neil Hartley, Managing Directors of First Reserve, said: “In our view, Weir Flow Control represents an attractive growth platform in a fragmented sector, with internationally recognised brands driven by recurring high-margin aftermarket parts and services which have proven to be resilient through multiple economic environments.”

After the sale completes, Flow Control will continue to be led by current President David Paradis and his management team, Weir said.

In the year to December 31, 2018, Flow Control’s unaudited financial results included profit before tax of £23 million on a pre-exceptional items and intangibles amortisation basis.