Metso sells its shares in Metso ND Engineering in South Africa
Published 6/4/2013, 1:00 PM EET
Metso has sold its shares in Metso ND Engineering (Pty) Ltd to the current minority owner Mr. 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, Mr. Elvis Green acquired 30% of the company shares.
Metso’s pulp, paper and power professionals specialize in processes, machinery, equipment, services, paper machine clothing and filter fabrics. Our offering and experience cover the entire process life cycle including new production lines, rebuilds and services.
Metso is a global supplier of technology and services to customers in the process industries, including mining, construction, pulp and paper, power, and oil and gas. Our 30,000 professionals based in over 50 countries contribute to sustainability and deliver profitability to customers worldwide. Metso’s shares are listed on the NASDAQ OMX Helsinki Ltd.
For further information, please contact: Erik Kornfeld, Vice President, Legal, Patents and Business Development, Fiber business line, Metso, tel. +46 70 383 22 84, erik.kornfeld(at)metso.com