01/11/2017 08:30:10

Metso acquires WEARX to strengthen its position in mining services in Australia

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Metso acquires WEARX to strengthen its position in mining services in Australia

Metso Corporation's press release in November 1, 2017 at 10:30 a.m. EEST

Metso has today closed the acquisition of an Australia-based wear lining solutions provider WEARX. The company's sales in the fiscal year 2017 that ended on June 30 were AUD 35 million (EUR 23 million) and it has approx. 140 employees. WEARX has their headquarters in Newcastle, with operations also in Ballina, Orange and Perth.

"The acquisition is a good strategic fit for Metso, supporting our profitable growth strategy," says Nico Delvaux, President and CEO of Metso. "Joining forces with WEARX gives us the opportunity to strengthen our position in the wear lining business and extends our offering for our Australian customers. We are very happy to welcome the WEARX team into Metso," he continues.

About WEARX

WEARX is a wear solutions provider, addressing the needs of major mining customers by implementing wear technologies to deliver wear protection solutions. The company's offering includes wear liners, rubber and ceramic lining, skirting, and bulk material handling equipment. The services portfolio includes design, engineering, site services and project management. Further details can be found on the company's website at wearx.com.  

Metso is a world leading industrial company serving the mining, aggregates, recycling, oil, gas, pulp, paper and process industries. We help our customers improve their operational efficiency, reduce risks and increase profitability by using our unique knowledge, experienced people and innovative solutions to build new, sustainable ways of growing together.

Our products range from mining and aggregates processing equipment and systems to industrial valves and controls. Our customers are supported by a broad scope of services and a global network of over 80 service centers and about 6,000 services professionals. Metso has an uncompromising attitude towards safety.

Metso is listed on the NASDAQ OMX Helsinki, Finland, and had sales of about EUR 2.6 billion in 2016. Metso employs over 11,000 persons in more than 50 countries. Expect results.

metso.com

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Further information

Global Communications, tel. +358 20 484 3212

Investor relations, tel. +358 20 484 3253


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Metso Corporation via Globenewswire

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