Finland-based global engineering and technology company Metso Corporation has announced that it has completed the acquisition of US-based GE Energy's heavy fabrication and machining facility Lachine Main Plant, located in Quebec, Canada.
The ownership of the company was transferred to Metso on August 15, 2008.
In order to strengthen Metso's mining equipment supply chain, the acquired assets will be integrated into Metso Minerals' mining business line. Moreover, approximately 170 skilled employees will be transfered to Metso.
Lachine Main Plant will commence supplies of the complete range of Metso's mining process machinery immediately. The full capacity of the plant is expected to be achieved by the end of Q1 2009.
The parties have agreed not to disclose the financial terms.