Metso has completed the acquisition of a steel foundry in Quzhou City, Zheijang Province some 400km Southwest of Shanghai. The acquired assets of Quzhou Juxin Machinery and Quzhou Chixin Machinery, including approximately 220 employees, will transfer to Metso. 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 a good starting point to develop the Quzhou foundry as part of Metso. We already have the most extensive service 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 in Ahmedabad, India; Isithebe, South Africa; Prerov, Czech Republic; Sorocaba, Brazil and Tampere, Finland, and an extensive network of external casting suppliers serving the mining and construction industries.
The year 2013 also 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.