The Chinese translation is being made; the original is shown for now.
Weir has completed the acquisition of Mining Software Holdings Pty Ltd (“Micromine”), effective today. This follows the announcement on 28 February 2025 of an agreement to acquire Micromine, a global leader in mining software solutions, for a sterling equivalent enterprise value of £624m¹ (A$1,310m).
Jon Stanton, Chief Executive Officer said:
“We are delighted that Micromine has formally become part of Weir. Micromine is a high performing, high growth business of scale, and is a natural and complementary fit for Weir.
Weir’s mission is to deliver mining technology for a sustainable future, helping the mining industry produce the metals needed to power the global energy transition. Digital has a big part to play, and Weir is innovating and investing in digital solutions to make mining smarter, more efficient and sustainable.
Bringing together Micromine with our existing digital technologies, our vision is to create a digital platform that helps our customers optimise their performance at each step along the mining value chain. This is about bringing together Weir’s knowledge, capabilities and expertise to create sector-leading digital solutions for the mining industry.”
Integration and leadership
The business will be led by Kristen Walsh, previously Regional Managing Director of Minerals APAC, who is appointed Division President, Digital Solutions and joins the Group Executive reporting to Jon Stanton. Andrew Birch, the current CEO of Micromine, will remain with Weir for up to 12 months supporting Kristen in an advisory capacity.
In due course, we intend to bring together Micromine solutions with MOTION METRICS™ and NEXT intelligent solutions, to create a sector-leading combined digital solutions offering for the mining industry. In the meantime Micromine will be reported externally within the ESCO Division.
A high quality, high growth and highly profitable business
Micromine is a leading software provider to the mining industry with comprehensive solutions across the upstream mining value chain from exploration through mine design and planning, operational scheduling and mining operations in hard ore, soft ore and underground applications.
In terms of the impact to our 2025 financial guidance, we expect Micromine’s revenue contribution to be in-line with the pro-forma information presented previously on 28 February, subject to changes in the Australian Dollar exchange rate since release. We expect Micromine’s operating profit contribution to add around 25bps to group operating margins in 2025, with c.£16m of one-off integration and acquisition related costs to be recognised across 2025 and 2026 as exceptional items. As a result of funding the transaction, we expect an increase in interest costs in the year of approximately £25m.
Notes:
1. Purchase settled in AUD. Spot of 2.0995 based on indicative Management rates.
Disclaimer
This information includes 'forward-looking statements'. All statements other than statements of historical fact included in this release, including, without limitation, those regarding The Weir Group PLC's (the "Group") financial position, business strategy, plans (including development plans and objectives relating to the Group's products and services) and objectives of management for future operations, are forward-looking statements. These statements contain the words "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Group's present and future business strategies and the environment in which the Group will operate in the future. These forward-looking statements speak only as at the date of this document. The Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Past business and financial performance cannot be relied on as an indication of future performance.
About The Weir Group PLC
Founded in 1871, The Weir Group PLC is one of the world’s leading engineering businesses with a purpose to make its mining and infrastructure customers’ operations more sustainable and efficient. Weir’s highly engineered technology and digital solutions enable critical resources to be produced using less energy, water and waste while reducing customers’ total cost of ownership. The Group is ideally positioned to benefit from structural trends that support long-term demand for its technology including the need for more essential metals to support economic development and carbon transition. The Group has c.12,000 employees operating in over 50 countries with a presence in every major mining region of the world. Find out more at www.global.weir.
Weir’s ordinary shares trade on the London Stock Exchange (ticker: WEIR LN) and its American Depositary Receipts trade over-the-counter in the USA (ticker: WEGRY).
Enquiries
Investors: Philip Carlisle | +44 (0)141 308 3617
Media: Sally Jones | +44 (0)141 308 3666
CDR: Kevin Smith | +44 (0)7710 815924 | weir@cdrconsultancy.com