Metso agrees to divest certain parts of its industrial rubber conveyor belt
manufacturing and related sales and services operations
in Northern Europe to ContiTech and Lutze Group
HELSINKI, FINLAND -- (Marketwired) -- 09/03/13 --
Metso Corporation's press release on September 3, 2013 at 1.20
p.m. local time
Metso has agreed to divest certain parts of its industrial rubber
manufacturing and related sales and services operations.
The operations comprise
27 locations with around 340 employees
currently belonging to Metso's Mining and Construction segment. The
industrial rubber conveyor belt manufacturing and sales and services
locations in Finland will be divested to ContiTech Conveyor
Group. The industrial rubber conveyor belt sales and services
locations in Belgium, Germany, Netherlands, Norway and in Southern
Sweden will be divested to Lutze Group. The price of the transaction
will not be disclosed.
Industrial rubber conveyor belts and related services will continue
to be an
essential part of Metso's offering to mining and
construction industries also in the future. The planned divestment is
part of Metso's strategy to develop and
simplify its current
production capacity in Europe. The aim is to improve
competitiveness of the business and to further develop customer
sales and services operations planned to be divested
serve other customer industries than mining and construction.
Completion of the planned divestment is expected to occur during
planned divestment will have no material impact on
Metso's financial performance.
The ContiTech Conveyor Belt Group, a business unit under the
of the automotive supplier Continental AG, is one
of the world's leading suppliers of technical rubber products and is
a specialist for plastics technology. The division develops and
produces functional parts, components and
systems for the automotive
industry and other important industries. ContiTech
has a workforce of
approximately 28,000 employees. In 2012, it achieved sales of about
The LUTZE-Group is a family owned business with two industrial
sectors. The conveyor business of Lutze Foerdertechnik is focused on
supplying and servicing
its customers mainly with quality conv
belts and spray coat wear protection.
engineers and manufactures polyurethane parts - also for wear
protection - in its own plant in Germany. In 2012, net sales amounted
approximately EUR 25 million with around 160 employees.
Metso's mining and construction professionals specialize in always
right technology, processes, machinery and services to
our customers in the aggregates production, construction, mining and
minerals processing and in metal
and waste recycling. Expect results.
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 profitability to
customers worldwide. Metso's shares are listed on the NASDAQ OMX
Helsinki Ltd. www.metso.com, www.twitter.com/metsogroup
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Metso Corporation via Thomson Reuters ONE [HUG#1726839]
For further information, please contact:
SVP, Process Wears Solutions, Mining and Construction, Metso, phone
+ mobile No : +358 46 876 2255.
Press spacebar to pause and continue. Press esc to stop.