While not disclosing the sum involved in the acquisition, Metso Outotec said the deal would have 鈥渘o material impact on its financials鈥�.

Markku Simula, president, Metso Outotec aggregates business area. (Photo: Metso Outotec)

Closing is expected to take place before the end of June.

This is the Finnish company鈥檚 second major acquisition in the crushing and screening sector in three years, .

Tesab, whose product portfolio includes mobile jaw, impact and cone crushers, mobile screens, scalpers and stackers, will continue as an independent brand within Metso Outotec and manage its own distribution network. Its turnover for 2021 was around 鈧�30 million (US$32.7 million).

鈥淲e are very glad to welcome Tesab to Metso Outotec,鈥� said Markku Simula, president of the aggregates business area.

鈥淚 am convinced that we can further develop their business. We intend to increase Tesab鈥檚 global reach by appointing new distributors and strengthening Tesab鈥檚 presence in new markets.鈥�

Metso Outotec鈥檚 recently published annual report says orders across the company鈥檚 products and services grew by more than 30%, while sales were up by 9%.

In the aggregates business, sales for 2021 were just over 鈧�1.2 billion ($1.3 billion), compared to 鈧�992 million ($1.08 billion) the previous year, a rise of 21%.

Operating profit grew by 56% to 鈧�148 million ($161 million) in the same period, increasing from 9.5% of sales to 12.3%.