In a bold play to deepen its North American roots, Weir Group PLC has announced a deal to acquire Townley Engineering & Manufacturing Co. Inc. and Townley Foundry & Machine Co. Inc. for £111 million ($149 million), marking a significant push into the U.S. phosphate mining market. The Glasgow-headquartered mining giant is betting big on America’s mineral core—and the numbers suggest it’s a gamble poised to pay off.
Forging New Ground in Florida
Townley, headquartered in Ocala, Florida, lies at the epicenter of the U.S. phosphate belt—an area rich in the chemical compound crucial for fertilizers. With operations that include a foundry and the manufacture of wear-resistant mining equipment such as abrasion-resistant pumps, hoses, valves, and rubber linings, Townley has long served as a silent workhorse in the backbone of American mining.
Weir plans to fold Townley into its North American arm of the minerals division, bolstering its regional capabilities and tightening its grip on a lucrative niche.
“The acquisition of Townley will significantly enhance our geographic presence in North America, enabling us to serve customers in the region more effectively and sustainably,” said Jon Stanton, CEO of Weir, in a statement to the London Stock Exchange.
