Metso has signed an agreement to acquire Tedd Engineering, a privately owned company specialized in automation, control systems, and electrical solutions for mobile equipment and aftermarket, primarily focusing on the aggregates business. Tedd Engineering employs approximately 70 employees and it’s based in Chesterfield, UK. Its sales in the financial year that ended in June 2023 were approximately GBP 15 million.
“We are very happy to welcome Tedd Engineering to Metso. The acquisition clearly strengthens our capabilities to utilize digitalization and automation in our mobile equipment business and especially in the aftermarket. We are committed to serving all of Tedd Engineering’s current customers as well as developing new solutions for them. The current Tedd Engineering customers will see the continuation of their business and future investments,” says Markku Simula, President, Aggregates business area at Metso.
“Beyond Metso’s own mobile products, Tedd Engineering will offer new opportunities for the automation aftermarket business, including control system upgrades, digital solutions, and remote monitoring. Tedd Engineering has been a trusted automation supplier for Metso’s McCloskey brand already for several years and coming together will give us new opportunities to speed up our electrification and digitalization programs,” he continues.
“Metso is one of the leaders in its field, and deepening our already long-standing co-operation by joining them is a very good next step for Tedd Engineering. I am sure that by broadening the scope of our advanced control systems more widely throughout their portfolio, we can enhance the already excellent digital and automation offering to their customers,” says Richard Hooper, CEO of Tedd Engineering.
The acquisition is expected to be closed during Q4 2023. The parties have agreed not to disclose the transaction value, which has no material impact on Metso’s financials.
About Tedd Engineering
Tedd Engineering has provided electronic control systems for heavy machinery for over 30 years and developed unrivalled expertise and reputation in the industry. Their control systems, handsets, wiring looms and modules are built in-house at their manufacturing facilities based both in England and Northern Ireland. www.teddengineering.com.
Toni Laaksonen, SVP, Materials Processing Products, Aggregates business area, Metso, tel. +358 401 593 535, email toni.laaksonen(at)mogroup.com
Richard Hooper, CEO, Tedd Engineering, tel. +44 7891 924396, email richard.hooper(at)teddengineering.com
Helena Marjaranta, Vice President, Communications and Brand, Metso, tel. +358 20 484 3212, email helena.marjaranta(at)mogroup.com
Metso is a frontrunner in providing sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries globally. By helping our customers increase their productivity, improve their energy and water efficiency and environmental performance with our process and product expertise, we are the partner for positive change.
Headquartered in Espoo, Finland, Metso employs over 16,000 people in close to 50 countries and sales for 2022 were about EUR 5.3 billion. The company is listed on the Nasdaq Helsinki. metso.com, x.com/metsoofficial