Metso Corporation’s press release on September 7, 2018 at 10:00 a.m. EEST

Metso is investing in the development of its foundry capacity in Vadodara, India. The initial investment includes the acquisition of the property and foundry assets of a privately-owned foundry project, Mega Cast. Metso expects to invest a total of approx. EUR 25 million to purchase the assets and to develop the foundry by 2020. With this investment Metso is responding to the global market demand by increasing production capabilities in cast wear parts for the aggregates and mining industries.

“This investment fully aligns with our profitable growth strategy. It further expands our global manufacturing footprint in foundry products, improving our operational capabilities and allowing us to meet our customers’ growing needs both in terms of availability as well as reduced lead times,” says Sami Takaluoma, President, Minerals Consumables business area at Metso. “We are continuously investigating new ways to develop our supply capabilities through our own manufacturing facilities as well as through our supplier network.”

The foundry development will begin as soon as the acquisition of the foundry assets has been completed. The first product deliveries from the Vadodara foundry are expected by the end of 2019 and the production will ramp up quickly in 2020. The new foundry will be built to follow Metso’s sustainability and quality principles.

Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 2.7 billion in 2017. Metso employs over 12,000 people in more than 50 countries. metso.comtwitter.com/metsogroup

Further information:

Pirjo Virtanen, VP, Metallic Supply Chain, Minerals Consumables business area, Metso Group, Tel. +358 20 484 4237, e-mail: pirjo.virtanen@metso.com

Helena Marjaranta, VP, Communications and Stakeholder Relations, Metso Group, Tel. +358 20 484 3212, e-mail: helena.marjaranta@metso.com

Kamal Pahuja, SVP, Metso India, Tel. +91 124 271 6001, email: kamal.pahuja@metso.com

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Source: https://www.otcmarkets.com/stock/MXCYY/news/Metso-to-increase-its-foundry-capacity-in-India-to-meet-the-growing-global-demand-for-cast-wears-for-mining-and-aggregat?id=203075