Metso in­creases Australian foot­print

The Australian Mining Review - - NEWS - REUBEN ADAMS

GLOBAL in­dus­trial com­pany METSO has stength­ened its Australian mar­ket po­si­tion in min­ing ser­vices with the aqui­si­tion of wear lin­ing so­lu­tions provider WEARX for an undis­closed sum.

Head­quar­tered in New­cas­tle, and with op­er­a­tions in Bal­lina, Orange and Perth, WEARX has about 140 em­ploy­ees and recorded FY17 sales of $35 mil­lion.

WEARX chief Gary New­man said the com­pany had worked hard to turn it­self into an ag­ile ser­vice provider, but the back­ing of a larger com­pany was nec­ces­sary to un­lock “our full po­ten­tial”.

“With the fund­ing of the next phase of our com­pany’s growth in mind, we de­cided that a full trade sale to a large, like­minded com­pany was the best way to con­tinue the evo­lu­tion of our business.”

Metso’s se­nior vice pres­i­dent for the Australian Mar­ket Ar­eas Ross Wother­spoon said the aqui­si­tion was part of a wider com­pany strat­egy which in­cluded both or­ganic growth and growth through aqui­si­tions.

’We want to make sure that the tran­si­tion goes smoothly, es­pe­cially for staff and cus­tomers,” Mr Wother­spoon said.

“The re­ten­tion of WEARX’s agility and en­tre­pre­neur­ial spirit is a fun­da­men­tal suc­cess fac­tor.”

The com­pa­nies have as­sem­bled a ded­i­cated team to work on all as­pects of the in­te­gra­tion, ex­pected to take about 6 months.

The WEARX aqui­si­tion strength­ens Metso’s Australian po­si­tion in min­ing ser­vices.

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