Metso has completed the acquisition of the steel foundry in Quzhou City, Zheijang Province some 400km south-west of Shanghai, which was announced in February 2013. The acquired assets of Quzhou Juxin Machinery and Quzhou Chixin Machinery and approximately 220 employees are now transferred 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 its mining and construction industry customers in China and
Metso has completed the acquisition of the steel foundry in Quzhou City, Zheijang Province some 400km south-west of Shanghai, which was announced in February 2013.
The acquired assets of Quzhou Juxin Machinery and Quzhou Chixin Machinery and approximately 220 employees are now transferred 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 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,” 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. Its foundries are 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 being a paper machine delivery, which was signed in 1933.
Metso continues to strengthen its presence in China and has announced an acquisition of Shaorui Heavy Industries and a joint venture with LiuGong Group Corporation.
