NewswireToday - /newswire/ -
Helsinki, Finland, 2015/01/26 - Metso has acquired from the US-based company Rexnord Industries, LLC certain intellectual property rights related to Rexnord's Falk Mill Products business [NYSE: RXN] - Metso.com. MEO1V.HE
The acquisition allows Metso to provide replacement gears and pinions for its customers utilizing original equipment manufacturer (OEM) drawings and specifications for mills and kilns purchased through Metso and certain other end users. The acquisition also includes some key Mill Products specialists to support the business. The value of the acquisition is not disclosed.
"This acquisition is consistent with Metso's aim to continue being a complete supplier of replacement parts and service for our installed equipment. This added capability will increase Metso's ability to provide not only the replacement parts and services for open gearing, but also additional technical competence in gears and pinions and the quality requirements necessary to produce these components," states Andy Fritz, Senior Vice President, Communication, Metso.
Rexnord, listed on the New York Stock Exchange (rexnord.com) and headquartered in Milwaukee, Wisconsin, USA, is comprised of two strategic platforms: Process & Motion Control and Water Management. The company has approximately 7,400 employees worldwide.
Metso (metso.com) is a leading process performance provider, with customers in the mining, oil and gas, and aggregates industries. Metso's cutting-edge services and solutions improve availability and reliability in minerals processing and flow control, providing sustainable process and profit improvements. Metso is listed on the NASDAQ OMX Helsinki, Finland. In 2013, Metso's net sales totaled EUR 3.8 billion. Metso employs approximately 16,000 industry experts in 50 countries. Expect results.
Andy Fritz, Senior Vice President, Comminution, Metso, T: +1 717-849-7188 - E: andrew.fritz[.]metso.com.
Jussi Ollila, Vice President, Global Communications, Metso Corporation, T: +358 20 484 3212 - E: jussi.ollila[.]metso.com.