Finland-based global engineering and technology company Metso Corporation has announced that it has signed an agreement with US-based GE Energy to acquire its heavy fabrication and machining facility Lachine Main Plant, located in Quebec, Canada.
In order to strengthen Metso's mining equipment supply chain, the acquired assets will be integrated into Metso Minerals' mining business line.
Lachine Main Plant, which has been specializing in the production of hydraulic turbines and power generation equipment, has a heavy manufacturing space of approximately 25,000 square meters and excellent land and sea connections which will allow Metso to serve its customers worldwide.
The transaction is expected to close in the middle of the August and the facility will commence supplies of the complete range of Metso's mining process machinery immediately after closure.
Commenting on the acquisition, Metso Minerals' president Matti Kähkönen said, "The acquired capacity will allow us to provide our mining customers with high quality products on attractive delivery times. It clearly supports Metso's growth strategy and our commitment to respond to our customers' needs."
The parties have agreed not to disclose the financial terms.