Stock Exchange release August 18, 2008 02:00:00 PM CET
Metso completes the acquisition of GE Energy's Lachine Main Plant
Metso Corporation Press release on August 18, 2008 at 3.00 p.m.
Metso has completed the acquisition of GE Energy's Lachine Main Plant, a heavy fabrication and machining facility located near Montreal, province of Quebec, Canada. The ownership of the company was transferred to Metso on August 15, 2008.
The parties have agreed not to disclose the financial terms. The acquired assets will be integrated into Metso Minerals' Mining business line and approximately 170 skilled employees transfer to Metso.
Manufacturing of mining equipment will commence immediately at the new plant and it is expected to achieve its full capacity by the end of the first quarter 2009. The acquisition adds significantly to Metso's mining equipment supply.
Metso is a global engineering and technology corporation with 2007 net sales of over EUR 6 billion. Its over 27,000 employees in approximately 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:
Tuula Puhakka, Senior Vice President, Business Development and Marketing, Metso Minerals, tel. +358 20 484 4504
Andrew Benko, President, Mining business line, Metso Minerals, tel. +1 717 849 7426