Metso mills organic & greenfield expansions in India
Finland-headquartered Metso Corporation, a €3.2-billion industrial equipment maker, has decided to increase investment in both organic and greenfield expansions in India. President and CEO, Pekka Vauramo said that the company offers equipment and services for mining, aggregates, recycling and process industries, and has invested over €100 million over the last 25 years in India, of which €70 million has been invested in 2018 alone. Investments have been made for increasing the capacity of its manufacturing facility in Alwar, Rajasthan by 35 percent; developing a 20,000-ton capacity foundry in Vadodara; and acquiring the valve automation division of Mumbai-based Rotex Manufacturers and Engineers. If India's high growth rate continues, the company will consider more acquisitions and investments. It currently has a market share of around 25 percent each in the mining and aggregates segments; 5-10 percent in the valves segment; and close to 25 percent in the pulp and paper industry.
📅Published on:
01 March 2019
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