Tedd Engineering has around 70 employees and is based in Chesterfield, Derbyshire, England. The company's sales in the financial year that ended in June 2023 were around £15mn.
Speaking after the acquisition move was initially revealed on 2 October 2023, Markku Simula, president of the aggregates business area at Metso, said: "The acquisition clearly strengthens our capabilities to utilise digitalisation and automation in our mobile equipment business and especially in the aftermarket.
"We are committed to serving all of Tedd Engineering's current customers as well as developing new solutions for them. The current Tedd Engineering customers will see the continuation of their business and future investments.
"Beyond Metso's own mobile products, Tedd Engineering will offer new opportunities for the automation aftermarket business, including control system upgrades, digital solutions, and remote monitoring. Tedd Engineering has been a trusted automation supplier for Metso's McCloskey brand for several years, and coming together will give us new opportunities to speed up our electrification and digitalisation programs."
Also speaking after the 2 October initial announcement, Richard Hooper, CEO of Tedd Engineering, said: "Metso is one of the leaders in its field, and deepening our already long-standing co-operation by joining them is a very good next step for Tedd Engineering. I am sure that by broadening the scope of our advanced control systems more widely throughout their portfolio, we can enhance the already excellent digital and automation offering to their customers."