Weir Group PLC Weir completes purchase of Motion Metrics (1203U)
01 Décembre 2021 - 8:00AM
UK Regulatory
TIDMWEIR
RNS Number : 1203U
Weir Group PLC
01 December 2021
Weir completes purchase of Motion Metrics
The Weir Group announces today that it has completed the
previously announced acquisition of Motion Metrics, the market
leading developer of innovative Artificial Intelligence and Machine
Vision technology used in mines worldwide, for an initial
consideration of GBP89m.
Commenting on the acquisition, Weir Group CEO Jon Stanton
said:
"I am delighted to welcome our colleagues from Motion Metrics to
Weir as we combine forces to play a leading role in making mining
smarter, more efficient and more sustainable. I am excited by the
opportunities this acquisition brings to drive growth and
accelerate our journey to include data and insight as a core
offering to our customers."
Motion Metrics becomes a part of Weir's ESCO division and will
serve as a global centre of excellence for AI and Machine Vision
technology in Weir, supporting the increased digitisation of the
broader Weir product portfolio.
A copy of the press release of 5 November 2021 relating to the
announcement can be viewed at global.weir/newsroom.
Enquiries:
Investors: Stephen Christie +44 (0) 141 308 3781
Media: Citigate Dewe Rogerson: +44 (0) 207 638 9571
Chris Barrie / Kevin Smith Weir@citigatedewerogerson.com
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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 enables 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.11,000 employees operating in over 60 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).
About Motion Metrics International Corp.
Founded in 1999 Motion Metrics is a leading provider of AI and
rugged Machine Vision technology to global mining markets. Its
suite of patented products provides image and sensor-based
automatic monitoring and analysis for applications such as
equipment and wear monitoring, rock fragmentation sensing, boulder
detection and payload weight and volume analysis. Motion Metrics
innovative technology is used on more than 80 mine sites around the
world and enables mine operators to optimise safety, efficiency and
sustainability by helping prevent costly unplanned downtime. Its
solutions are used in a variety of applications from drill and
blast through to minerals processing. The business is based in
Vancouver, Canada and has sales offices in a number of major mining
regions including Chile, Australia, Brazil, Russia and South
Africa. For further information, please visit
www.motionmetrics.com.
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