Stock Exchange release October 2, 2009 11:30:00 AM CET
Metso to enter solid waste recycling equipment business through acquisition of Danish M&J Industries A/S
Metso Corporation's company release on October 2, 2009 at 12:30 p.m.
Metso and M&J Industries A/S, a company controlled by Dansk Kapitalanlæg, have today signed a sale and purchase agreement according to which Metso will acquire 100% of the shares in the Danish company M&J Industries A/S. The value of the transaction is about EUR 16 million and it is expected to be closed in the coming weeks.
This acquisition strengthens Metso's position as a leading supplier of recycling equipment and services and makes Metso a significant player also in the solid-waste recycling equipment segment. M&J Industries offers a broad range of mobile and stationary products for solid-waste crushing and has a large installed base. Metso's global sales and service network enables further growth of the acquired waste recycling business outside Europe.
M&J Industries is located in Horsens, Denmark, and has approximately 100 employees. Its forecasted net sales in 2009 are approximately EUR 26 million.
"With the acquisition, we are taking an important step in strengthening our capabilities to serve our traditional metal recycling equipment customers who are expanding their scope to also cover the recycling of other types of materials. An exciting new customer segment is energy companies that use this kind of equipment in the pre-combustion treatment of solid waste and biomass in their power plants. We already supply the segment with our power generation and automation products and services. Crushing technology has always been one of Metso's core strengths, and this acquisition expands our crushing capabilities to cover solid waste applications as well as the current metal recycling and rock crushing applications," says Christoffer Ribbing, President of Metso's Recycling business line.
Metso is a global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling and the pulp and paper industries. We have about 28,000 employees in more than 50 countries. www.metso.com
Further information for the press, please contact:
Christoffer Ribbing, President, Recycling business line, Metso, tel +49 211 2105 627
Christer Schönberg, Sr. VP, Business Development, Energy & Environmental Technology, Metso
Further information for investors, please contact:
Johanna Henttonen, Vice President, Investor Relations, Metso Corporation, tel. +358 20 484 3253