SWEDEN - Primaca Group completes EUR 15m Metso acquisition
Primaca Group has bought Metso Foundries Karlstad AB, a manufacturer of large, hand-molded iron castings, for EUR 15m from Metso Corporation. The vendor will retain a 16.7% stake in the new company, Heavycast AB.
Metso Foundries supplies castings for wind generator components, diesel engine blocks, and yankee cylinders for paper machines. The business generated revenues of approximately EUR 20m in 2007. Based in Karlstad, the company employs 120 people.
The investor already has one foundry company in its portfolio, Uuedenkaupungin Rautavalimo Oy.
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