Acquisition of body and bucket manufacturer set to expand Metso’s loading and hauling offering
METSO have signed an agreement to acquire Häggblom Oy, a privately-owned Finnish engineering and manufacturing company with whom they have partnered for several years in the manufacturing of truck bodies.
Häggblom’s key offering includes truck bodies and buckets for mining and quarrying, whilst their service portfolio includes wear parts, truck body and bucket refurbishments, as well as related field services.
Metso say the acquisition will broaden their offering in bodies and buckets by providing complete end-to-end loading and hauling solutions and strengthening the company’s position in the aftermarket.
They say the aim is to leverage Häggblom’s strong engineering and manufacturing expertise in collaboration with existing partners on a regional and global basis.
‘Loading and hauling is a growing business, and our goal is to further develop our capability to serve our customers,’ said Heikki Metsälä, president of Metso’s Consumables business area.
‘Häggblom’s product range, manufacturing know-how and engineering capabilities, as well as their service expertise, are a good addition to Metso's wear parts portfolio. Their employees will bring valuable skills to Metso, and we look forward to building on the great partnership we have developed over the years.’
Häggblom have around 100 employees, with manufacturing, service, and logistics units in Kokkola and Kalajoki, Finland, and in Luleå, Sweden. The company’s sales in 2022 were approximately €25 million.
Jukka Karhula, chief executive officer of Häggblom, said: ‘This is the beginning of an exciting new chapter for our company. We have successfully co-operated with Metso for many years, and we are now excited to become part of an international company.
‘We are confident that our expertise and products will align well with Metso's loading and hauling offering. This acquisition will benefit our customers and employees, who are our most important assets.’
The acquisition is expected to be finalized in August 2023. Both parties have agreed not to disclose the transaction value, which is said to have no material impact on Metso’s financials.