Metso has finalized the sale of the Tampere foundry in Finland to TEVO
(Thomson Reuters ONE) -
Metso has finalized the sale of the Tampere foundry in Finland to TEVO
Metso Corporation's press release on April 13, 2015 at 1:00 p.m. EEST
Metso has finalized the sale of the Tampere foundry, announced December
19, 2014, to the Finnish company TEVO Oy. The business was transferred to the
new owner on April 13, 2015. The sales price will not be disclosed. In
conjunction with the sale, all foundry personnel transferred to TEVO Oy with
their existing employment contracts.
"Tampere foundry's expertise, equipment and product portfolio are mainly
centered around demanding steel castings that are outside Metso's selected
customer sectors, e.g. in the shipbuilding and hydropower industries. The
divestment of the foundry supports Metso's strategy and gives both parties the
opportunity for a positive future and collaboration," says Juha Silvennoinen,
President, Services business area, Metso.
After the sale, Metso has five of its own foundries and a comprehensive network
of casting suppliers serving the mining and aggregates industries. Metso's own
foundries are located in Ahmedabad, India; Isithebe, South Africa; Prerov, Czech
Republic; Quzhou, China; and Sorocaba, Brazil.
TEVO is a family-owned business originally from Raahe in western Finland; it has
been in business for over 40 years. TEVO is an internationally operating heavy-
duty machine engineering workshop, whose business has expanded from the steel
and paper industries to the offshore and shipbuilding industries. TEVO
specializes in complex steel structures and specialty welding. Its own product
offering consists of, e.g., bronze propellers for sea-going vessels and
specialty rolls for paper industry. With the acquisition, TEVO employs
approximately 260 professionals at its Raahe, Turenki and Tampere sites in
Finland. Over 50% of TEVO's annual net sales of about EUR 50 million come from
exports. TEVO is a financially solid and trustworthy partner. It is one of the
most successful companies in its sector in Finland. www.tevo.fi
Metso is the world's leading industrial company in the mining and aggregates
industries and in the flow control business. Our knowledge, people and solutions
help drive sustainable improvements in performance and profitability in our
customers' businesses.
Metso has an uncompromising attitude towards safety. Our products range from
mining and construction equipment and systems to industrial valves and controls.
Our solutions are delivered and supported by decades of process knowledge and a
broad scope of services backed by a global footprint of over 90 service centers,
thousands of service employees, and an extensive logistics network.
Metso is listed on the NASDAQ OMX Helsinki, Finland. In 2014, Metso's net sales
totaled EUR 3.7 billion. Metso employs approximately 14,000 industry experts in
more than 50 countries. Expect results.
www.metso.com, www.twitter.com/metsogroup
For further information, please contact:
Pirjo Virtanen, VP Operations and Site Manager, Tampere, Finland, Metso, Tel.
+358 20 484 4237, Email: pirjo.virtanen(at)metso.com
Teuvo Joensuu, Managing Director, TEVO Oy, Tel. +358 40 504 7655, Email:
teuvo.joensuu(at)tevo.fi
Jussi Ollila, Vice President, Global Communications, Metso Corporation, Tel.
+358 20 484 3212, Email: jussi.ollila(at)metso.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
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