Finland's Metso buys Quzhou machinery foundry

Updated: 2013-02-20 13:53

(China Daily)

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Finnish engineering giant Metso Oyj has strengthened its presence in China with the acquisition, for an undisclosed amount, 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 Quzhou Chixin Machinery Co Ltd, which will be transferred to Metso along with the jobs of 275 workers. The transaction is expected to be completed within six months.

China Daily - Agencies