As per the deal, the company will pay $237.5m inclusive of net cash balances held by Trio as of 31 August 2014.
With this deal, Weir will be able to offer a wide range of products and services to its existing mining customers, leverage Trio’s manufacturing platform.
Weir Group CEO Keith Cochrane said: "This agreement will allow Weir Minerals to build upon its successful comminution strategy.
"We’ll use our group’s unrivalled global capability to promote Trio’s range of complementary products, extending our addressable market and offering our mining customers a wider range of highly engineered equipment and services.
The company will also use Weir Minerals’ global platform to boost Trio’s original equipment revenue growth and gain greater share of aftermarket opportunity from the installed base of Trio equipment.
Trio Engineered Products CEO Mike Burke said: "This agreement is strategically compelling for Trio, allowing the company to leverage Weir’s market-leading service centre network to accelerate growth and better serve our customers’ aftermarket needs on a truly global basis."
Image: Trio designs and manufactures various crushers, screens, feeders, washers and material handling solutions. Photo: courtesy of Supertrooper / FreeDigitalPhotos.net.
