Engineering giant Metso, based in the Finnish capital Helsinki, has strengthened its presence in China with the acquisition of the manganese steel foundry owned by Quzhou Juxin Machinery Co Ltd in Zhejiang province.

The transaction covers the acquisition of Juxin's assets as well as the Quzhou Chixin Machinery Co Ltd. The acquired assets and about 275 employees are expected to be transferred to Metso.

The value of the acquisition will not be disclosed and the transaction is expected to be completed within six months.

João Ney Colagrossi, president of the services business line of mining and construction at Metso, said:"We already have the most extensive services hub and distribution network in our industry.

"With this acquisition, we will strengthen our manufacturing presence in China and further develop our services business. We will improve our capability to supply parts to our mining and construction customers close to their operations, and increase the flexibility and resilience of our products supply chain. We intend to use the acquired site as a platform to further develop our services capabilities in China."

In November, Metso announced the establishment of a joint venture with Guangxi Liugong Group Co Ltd, and the acquisition of 75 percent of Shaorui Heavy Industries Co Ltd, one of the leading mid-market crushing and screening equipment makers in China.

Andrew Benko, president of mining and construction at Metso, said:"Metso now has a complete range of capital equipment and parts covering a wide range of customer requirements. By acquiring a new steel foundry in China, we are able to better serve the needs of our Chinese customer."