Metso Corporation's press release on August 22, 2013 at 1:30 p.m. local time
Metso has acquired the Indian engineering company EPT Engineering Services Private Limited. The acquisition follows Metso's strategy and strengthens the company's position in the growing Asian market. The value of the transaction will not be disclosed.
EPT Engineering Services is a privately owned company providing design, detail engineering and value added services such as conceptual design and 3D modeling to the power, pulp and paper, oil, gas and petrochemical industries. The company has 90 employees.
"The acquisition of EPT follows our strategy to improve our cost-competitiveness and to serve our customers better, both locally and globally. This acquisition gives also Metso a 100% ownership of the joint venture, Metso Power India Private Limited, where EPT has been a minority owner,'' says Olli Karavirta, Vice President, Operations, Metso's Power business line.
Metso's pulp, paper and power professionals specialize in processes, machinery, equipment, services, paper machine clothing and filter fabrics. Our offering and experience cover the entire process life cycle including new production lines, rebuilds and services.
As of January 2014, Metso's Pulp, Paper and Power business will serve its customers with an even more focused and competitive approach as an independent, listed company, Valmet Corporation*.
*Pending Metso EGM approval.
www.metso.com/pulpandpaper, www.metso.com/power, www.twitter.com/Metsoenergy
Metso is a global supplier of technology and services to customers in the process industries, including mining, construction, pulp and paper, power, and oil and gas. Our 30,000 professionals based in over 50 countries contribute to sustainability and deliver profitability to customers worldwide. Metso's shares are listed on the NASDAQ OMX Helsinki Ltd.
For further information, please contact:
Olli Karavirta, Vice President, Operations, Power business line, Metso, tel. +358 20 14121