Metso has signed an agreement to divest its grinding media business to Moly-Cop. This includes Metso Spain Holding S.L.U’s operations with two locations and around 80 employees in Spain (Bilbao and Seville). The estimated turnover of the business in 2018 will be approximately EUR 60 million. The value of the transaction will not be disclosed, Metso said.
“Metso’s growth strategy in the consumables business is to focus on developing a world-leading global offering,” said Sami Takaluoma, president, minerals consumables business area. “We are confident that our customers and our grinding media team will benefit from this transaction and from the combination of our strong regional know-how with Moly-Cop’s global capabilities.”
Moly-Cop is the leading global manufacturer of grinding media used primarily by copper, gold and iron ore producers to break down ore in the primary phase of mineral concentration.
“Metso has a valued and longstanding reputation as a trusted grinding media supplier for western Europe and northwestern Africa,” said Jim Anderson, CEO of Moly-Cop. “This acquisition is a great match for Moly-Cop and our strategy moving forward. Metso’s operations and team align perfectly with our global manufacturing network, and this transaction will further enhance our industry-leading value proposition to our customers.”
The transaction is expected to close in December 2018 and is subject to customary closing conditions, including regulatory approvals.