"I am delighted that ESCO has formally become part of the Weir Group," Weir Group CEO Jon Stanton said today.

"As mining markets continue to grow customers are focused on increasing production sustainably and efficiently. ESCO's premier position in surface mining complements our established leadership in materials processing, meaning together the group has a unique range of mission critical solutions from extraction to concentration, built on proprietary technology, superior wear life and supported by an unrivalled service network."

ESCO is now a new division of Weir and will report as a separate segment alongside minerals and oil and gas.

Former ESCO president and chief operating officer Jon Owens heads the new Weir business, while ex-EXCO chairman and CEO Cal Collins has joined Weir's board as a non-executive director.