Weir Minerals recently announced that it has acquired Trio, a Chinese-American manufacturer of crushing and separation equipment, for $220 million. The acquisition extends the Weir product portfolio for mining customers; building on successful entry into comminution (crushing, grinding and screening). The company sees the transaction as an opportunity to accelerate Trio’s growth through the Weir global platform and to similarly cross-sell Weir’s product range through Trio’s sales channels in North America and China.
Trio is based in Shanghai, China, where it has two manufacturing plants. The company also has facilities in the U.S. In 2013, 31% of Trio’s revenues were generated in North America, primarily in the aggregates sector; 25% were in China, mainly serving the domestic mining industry; the balance was broadly spread across Australia, South America, Africa and Europe.
“This agreement will allow Weir Minerals to build upon its successful comminution strategy,” said Keith Cochrane, CEO of the Weir Group. “We’ll use our group’s unrivaled 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. Trio’s established manufacturing capability and its scale and presence in aggregates markets also provides a further platform for growth.”