Metso Minerals to acquire Czech Republic's PSP Slévárna
By Richard High06 October 2008
Metso Minerals has announced it is to acquire privately owned PSP Slévárna, a producer of finished machined manganese wear parts located in Prerov, the Czech Republic.
The company will be transferred to Metso Minerals on October 1, 2008. No financial details have been disclosed. PSP Slévárna's factory will be integrated into Metso Minerals' Construction business line.
A statement from Metso Minerals said the acquisition would improve its capacity to supply wear parts to crushing and screening plants for its construction and mining customers.
Located close to Metso's markets and installed equipment base in Central and Eastern Europe, the new production plant will also generate savings and shorten wear parts' lead times, said the statement.
PSP Slévárna's 385 employees are expected to transfer to Metso Minerals as a result of the transaction. The company's annual net sales amount to approximately € 20 million.
The acquisition is part of Metso Minerlals' "profitable growth strategy" to develop its services business. Metso's target is to develop its services offering and efficiency, thereby increasing its customers' productivity and profitability and building closer customer relationships.
PSP Slévárna has, until now, been a supplier to Metso.