Metso and M&J Industries A/S have signed a sale and purchase agreement whereby Metso will acquire 100 percent of the shares of M&J Industries, based in Horsens, Denmark.
M&J is controlled by Dansk Kapitalanlaeg. It has forecasted 2009 net sales of EUR 26 million.
The value of the transaction is about EUR 16 million and it is expected to be closed in the coming weeks.
This acquisition strengthens Metso's position as a leading supplier of recycling equipment and services and makes Metso a significant player also in the solid-waste recycling equipment segment. M&J Industries offers a broad range of mobile and stationary products for solid-waste crushing and has a large installed base. Metso's global sales and service network enables further growth of the acquired waste recycling business outside Europe.
"With the acquisition, we are taking an important step in strengthening our capabilities to serve our traditional metal recycling equipment customers who are expanding their scope to also cover the recycling of other types of materials. An exciting new customer segment is energy companies that use this kind of equipment in the pre-combustion treatment of solid waste and biomass in their power plants.
"We already supply the segment with our power generation and automation products and services. Crushing technology has always been one of Metso's core strengths, and this acquisition expands our crushing capabilities to cover solid waste applications as well as the current metal recycling and rock crushing applications," says Christoffer Ribbing, president of Metso's Recycling business line.