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 its mining and construction industry customers in China and other markets in Asia- Pacific.
Metso currently has five foundries and an extensive network of external casting suppliers serving the mining and construction industries. The 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.