Stock Exchange release November 1, 2007 07:30:00 AM CET
Metso further strengthens its metal recycling business with a U.S. acquisition
Metso has acquired Mueller Engineering Inc (MEI). The company, a leading provider of equipment and service for high voltage drive systems to the North American shredder industry, is located in New Berlin, Wisconsin. The sellers are members of the Mueller family. The acquisition price is approximately EUR 6 million. The company was transferred to Metso on October 31, 2007.
Mueller Engineering is a shredder plant service provider specializing in servicing the drive motors and related equipment critical to the functioning of the shredder. In addition to North America, MEI has customers in Asia-Pacific, South America, South Africa and Europe. In 2006, the net sales of the company were EUR 10 million. It employs some 20 people.
With this acquisition Metso Minerals further strengthens its position in the North American metal recycling plant service business and the supply of critical core components to the shredder plants. Combined with the prior BEST acquisition in March 2007, this transaction will make Metso a leading provider of metal recycling plant services in North America.
Metso is a global engineering and technology corporation with 2006 net sales of approximately EUR 5 billion. Its more than 26,000 employees in more than 50 countries serve customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries.
For further information, please contact:
Heinz Gerdes, President, Recycling Business Line, Metso Minerals, tel. +49 211 2105 0
Mike Phillips, SVP, Finance and Administration, Metso USA, tel. +1 770 246 7237