NEWS

(06/04/2013 / sha)

Metso: Selling shares in Metso ND Engineering, South Africa

Metso has sold its shares in Metso ND Engineering (Pty) Ltd to the current minority owner Elvis Green. Metso held 70% of the stock. The transaction came into effect on May 31. The value of the transaction will not be disclosed.

Metso and ND Engineering have agreed to cooperate closely in the future. Metso ND Engineering is a manufacturing workshop with about 250 employees, which operates in many fields, e.g. in the pulp and paper, mining, petro-chemical and sugar industries.

The offices and manufacturing facilities are based in Durban. Metso ND Engineering was established in 1975. In 1992, 60% of the company was acquired by Sunds Defibrator, which later became part of the Metso Group. In 1994 Sunds Defibrator acquired the remaining 40% and became the sole shareholder. In 2004, Elvis Green acquired 30% of the company shares.