GLASGOW, Scotland — The Weir Group will soon add Delta Industrial Valves Inc. to its company through a new acquisition, according to a press release.
Delta generated about $6.2 million in earnings before interest, tax, depreciation and amortization over the last 12 months, noted the release. It employs approximately 70 people.
The deal expands Weir Minerals’ presence in mining and oil sands markets, stated the release, especially in kinfe-gate valves for use in the transportation of slurry. The company expects post-tax returns before integration costs to exceed the 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," said Keith Cochrane, CEO of the Weir Group, in the release. "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, shared in the release, "We are delighted that Delta will be joining one of the world’s leading engineering businesses. 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 was founded in 197 and has a presence in more than 70 countries, reported the release. Delta began in 1987.
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