Fortescue Metals acquires Williams Advanced Engineering for $222.2M
Fortescue Metals Group has agreed to acquire Williams Advanced Engineering (WAE) from EMK Capital and Williams Grand Prix Engineering for $222.2 million (£164 million). The deal aims to help Fortescue decarbonize its mining operations using WAE's battery technology.
Productsbattery technologybattery-electric solutions for mining equipment
“This announcement is the key to unlocking the formula for removing fossil-fuel powered machinery and replacing it with zero carbon emission technology.”bbc.com
- 5 sources
- bbc.comFortescue: Firm owned by Australia's richest man buys Williams F1 battery armAdd as preferred on GoogleJan 24, 2022
- im-mining.comFortescue looks to 'accelerate and support' mine decarbonisation with WAE buy - International MiningDaniel GleesonJan 24, 2022
- abc.net.auAndrew Forrest's FMG acquires Williams Advanced Engineering in shift away from diesel - ABC NewsMichelle Stanley, Samantha GoerlingJan 25, 2022
- miningdigital.comFortescue buys Williams Advanced Engineering for £164mn | Mining DigitalDominic EllisJan 26, 2022
- railexpress.com.auFortescue races to decarbonisation goals - Rail ExpressRay Chan
Summarized from public sources; check the original articles before acting on it.
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