Metso completes the acquisition of the Chinese steel foundry

Metso has completed the acquisition of the steel foundry in Quzhou City, Zheijang Province some 400 km Southwest of Shanghai, announced in February 2013. The acquired assets of Quzhou Juxin Machinery Co., Ltd and Quzhou Chixin Machinery Co., Ltd and approximately 220 employees will transfer 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 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 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.