Metso extends its valve business from India
Finnish industrial company Metso is set to acquire the valve automation division of the India-based technology company Rotex Manufacturers and Engineers.
The acquisition will complement and extend Metso‘s actuation and valve automation offering with a full range of actuators for all major valve markets and a broader range of limit switches, as well as add new products to Metso’s process-valve portfolio.
A market leader in India’s actuator business, Rotex Manufacturers and Engineers reported sales of approximately 19 million euros in the last fiscal year ending on 31 March. It employs 275 people and has manufacturing facilities and sales offices in Mumbai, Vadodara, Kolkata and Pune.
“This acquisition represents an important strategic step for Metso’s valves business,” says John Quinlivan, president of Metso’s valves business area. “It expands our offering for the current customer segments, especially outside North America, and increases our presence in attractive new industries and application areas. In addition, the acquisition strengthens our capacities and our presence in the important Indian market.”
The acquisition is expected to be closed in July 2018 for an undisclosed amount.