Metso completes the acquisition of the Chinese steel foundry
(Thomson Reuters ONE) -
Metso Corporation's press release on August 8, 2013 at 10:00 a.m. local time
The acquisition improves Metso's capabilities to supply wear parts to its mining
and construction industry customers in China and other markets in Asia-Pacific
Metso has completed the acquisition of the steel foundry in Quzhou City,
Zheijang Province some 400 km Southwest of Shanghai, announced in February
2013. The acquired assets of Quzhou Juxin Machinery Co., Ltd and Quzhou Chixin
Machinery Co., Ltd and approximately 220 employees will transfer to Metso as of
today. The value of the acquisition will not be disclosed.
The target of the acquisition is to improve Metso's capabilities to supply wear
parts to our mining and construction industry customers in China and other
markets in Asia- Pacific. "I am really pleased that we were able to close this
important acquisition this fast. It gives us good starting point to develop the
Quzhou foundry as part of Metso. We already have the most extensive services
center and distribution network in our industry. With this acquisition we will
strengthen our manufacturing presence in China and further develop our services
business", says João Ney Colagrossi, President, Services business line, Mining
and Construction, Metso.
Metso currently has five foundries and an extensive network of external casting
suppliers serving the mining and construction industries. Our foundries are
located in Ahmedabad, India; Isithebe, South Africa; Prerov, Czech Republic;
Sorocaba, Brazil and Tampere, Finland.
The year 2013 marks Metso's 80-year anniversary in China. The company's first
contract from China, a paper machine delivery, was signed in 1933. Today, Metso
has a strong and well-established presence in China. Metso continues to
strengthen its presence in China and has announced an acquisition of Shaorui
Heavy Industries Ltd. and a joint venture with LiuGong Group Corp. Ltd. Metso's
3,200 employees in China address local customer needs in all Metso's key
customer industries, and support the sustainable development of China's
industries and infrastructure.
Metso's mining and construction professionals specialize in always bringing the
right technology, processes, machinery and services to our customers in the
aggregates production, construction, mining and minerals processing and in metal
and waste recycling. Expect results.
www.metso.com/miningandconstruction
Metso is a global supplier of technology and services to customers in the
process industries, including mining, construction, pulp and paper, power, and
oil and gas. Our 30,000 professionals based in over 50 countries contribute to
sustainability and deliver profitability to customers worldwide. Metso's shares
are listed on the NASDAQ OMX Helsinki Ltd.
www.metso.com, www.twitter.com/metsogroup
For further information, please contact:
João Ney Colagrossi, President, Services business line, Mining and Construction,
Metso, tel. +55 15 2102 1301, e-mail: joao.colagrossi(at)metso.com
Xiaofeng Liang, SVP China, Mining and Construction, Metso, tel.
+86 13801288953, e-mail: xiaofeng.liang(at)metso.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Metso Corporation via Thomson Reuters ONE
[HUG#1721915]
Unternehmensinformation / Kurzprofil:
Datum: 08.08.2013 - 09:01 Uhr
Sprache: Deutsch
News-ID 285873
Anzahl Zeichen: 4002
contact information:
Town:
Helsinki
Kategorie:
Business News
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"Metso completes the acquisition of the Chinese steel foundry"
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