Company responding to growing global demand for cast wear parts for the mining and aggregate industries
METSO are investing in the development of their foundry capacity in Vadodara, India. The initial investment includes the acquisition of the property and foundry assets of privately owned foundry project Mega Cast.
Metso, who expect to invest a total of approximately €25 million to purchase the assets and to develop the foundry by 2020, say they are responding to global market demand by increasing production capabilities in cast wear parts for the aggregates and mining industries.
According to Sami Takaluoma, president of the Minerals Consumables business area at Metso, the investment fully aligns with the company’s profitable growth strategy.
‘It further expands our global manufacturing footprint in foundry products, improving our operational capabilities and allowing us to meet our customers’ growing needs, both in terms of availability as well as reduced lead times,’ he said.
‘We are continuously investigating new ways to develop our supply capabilities through our own manufacturing facilities as well as through our supplier network.’
The foundry development will begin as soon as the acquisition of the foundry assets has been completed. The new foundry will be built following Metso’s sustainability and quality principles.
The first Metso product deliveries from the Vadodara foundry are expected by the end of 2019 and production will ramp up quickly in 2020.