Metso has completed the acquisition of the steel foundry in Quzhou City, Zheijang Province some 250 mi. southwest of Shanghai. The acquired assets of Quzhou Juxin Machinery Co. Ltd. and Quzhou Chixin Machinery Co. Ltd. and approximately 220 employees transfered to Metso as of Aug. 8. 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 its 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,” said 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. Its 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.
For more information, visit metso.com.