Stock Exchange release April 2, 2007 03:45:49 PM CET
Metso strengthens its metal recycling business with a U.S. acquisition
Metso has acquired Bulk Equipment Systems and Technologies Inc. (B.E.S.T. Inc). The company is a technology provider to the North American metal recycling market and it is located in Cleveland, Ohio. The sellers are a group of private investors. The acquisition price is approximately EUR 9 million. The company was transferred to Metso on March 30, 2007.
B.E.S.T. Inc. is a leading supplier of shredder downstream equipment, as well as process control and optimization technologies in North America. It owns engineering and manufacturing facility with a technical test laboratory in Cleveland. The net sales of the company were EUR 8 million in 2006. It employs approximately 40 people.
With the acquisition, Metso Minerals further strengthens its position in the North American metal recycling market, which is the largest in the world. The process control know-how of B.E.S.T. Inc. will upgrade Metso's offering not only in North America, but also in Asia and Europe.
Metsois a global engineering and technology corporation with 2006 net sales of approximately EUR 5 billion. Its 25,500 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 for the press, please contact:
Tuula Puhakka, Senior Vice President, Metso Minerals, Inc, tel. +358 400 969 991
Heinz Gerdes, President, Recycling Business Line, Metso Minerals, tel. +49 211 21050
Mike Phillips, SVP, Finance and Administration, Metso USA, tel. +1 770 246 7237