Metso complete McCloskey acquisition
Acquisition expands Metso’s offering to new customer segments and application areas
METSO’s acquisition of Canadian mobile crushing and screening equipment manufacturers McCloskey International was successfully completed on 1 October 2019, expanding Metso’s offering in the aggregates industry globally and strengthens their customer reach, especially to the general contractor segment.
‘This acquisition is an excellent strategic fit for Metso because it strengthens our aggregates business and balances our traditionally mining-focused minerals portfolio,’ said Pekka Vauramo (pictured), Metso’s president and chief executive officer. ‘With McCloskey as part of Metso, we are also better able to take part in the attractive, long-term growth of the mobile equipment market within the aggregates industry.’
Markku Simula, president of Metso’s aggregates equipment business, said: ‘This acquisition expands our offering to new customer segments and application areas. McCloskey’s capabilities and technical solutions strengthen our ability to address diverse customer needs through complementary channels and offerings. We are confident that McCloskey will align well with Metso and we are excited to welcome new colleagues to the Metso family.’
McCloskey International, who are headquartered in Keene, Ontario, and have approximately 900 employees in Canada, the US and Northern Ireland, will be reported in Metso’s minerals segment as of the fourth quarter of 2019. McCloskey’s sales for the fiscal year ended 30 September 2019 are expected to be approximately C$500 million (€330 million).