Wear parts giant ESCO finalises buyout of Hydra Mining Tools

first_imgLeading mining wear parts major ESCO has announced the completion of its strategic acquisition of Hydra Mining Tools International. Headquartered in the UK, Hydra is a preferred provider of underground mining cutting systems for the global coal mining market. In recent years, the company has been very successful in expanding its business in China, the world’s largest producer of coal.The acquisition of Hydra Mining Tools supports ESCO’s global expansion and, at the same time, provides a new range of products for underground mining markets. The statement said: “Hydra is an innovative designer, manufacturer and supplier of advanced technology underground mining cutting systems, specialising in shearer drums and cutting tools with carbide inserts, conveyor belts, and other related components. Hydra’s focus on underground consumable parts and related capital equipment is well aligned with ESCO’s position in consumables and equipment for surface mining.Hydra’s operations include sales and manufacturing in the UK and China, and a sales office in the US. “We are excited about ESCO’s acquisition of Hydra Mining Tools and the synergies and global opportunities that it will bring to ESCO,” said Cal Collins, ESCO’s President and Chief Operating Officer. “This acquisition opens the door for ESCO into the fast growing Chinese underground coal mining markets and positions ESCO for continued expansion into the established underground coal market in the US and Australia. We will leverage the ESCO brand and our expertise in mining wear parts and solutions to better service our customers.” With the formal closing of the deal, ESCO welcomes approximately 130 new employees to its workforce of approximately 5,200 globally.last_img read more