Metso Corporation : 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
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 conveyor
belt 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 Belt 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
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
the competitiveness of the business and to further develop customer service.
The 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 Q4/2013. The
planned divestment will have no material impact on Metso's financial
The ContiTech Conveyor Belt Group, a business unit under the ContiTech
Division 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 €3.7 billion.
The LUTZE-Group is a family owned business with two industrial sectors. The
conveyor business of Lutze Fördertechnik is focused on supplying and servicing
its customers mainly with quality conveyor belts and spray coat wear
protection. Lutze Kunststofftechnik engineers and manufactures polyurethane
parts - also for wear protection - in its own plant in Germany. In 2012, net
sales amounted to approximately € 25 million with around 160 employees.
Metso's mining and construction professionals specialize in always bringing
the 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.
For further information, please contact:
Pasi Jokela, SVP, Process Wears Solutions, Mining and Construction, Metso,
phone + mobile No : +358 46 876 2255.
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information contained therein.
Source: Metso Corporation via Thomson Reuters ONE
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