Company Profile

Weir is a leading global supplier of mining equipment and software. The group's two divisions supply the ground engaging tools (GET) and mine processing equipment that enable increasingly more efficient handling of hard rock. Its share price is strongly correlated with the price of copper, which is its largest end market exposure. This commodity has a very favourable outlook due to the increase in electrification and should drive strong growth in mining capex. It is also focused on gold and iron ore production. Its revenue is dominated (c.80%) by aftermarket consumable spare parts and service, giving strong visibility, while its more energy-efficient original equipment offering is gaining increased traction with customers. Weir is also a perennial takeover target.