Metso has signed an agreement to acquire the valve automation division of the India-based valve technology company Rotex Manufacturers and Engineers.
Helsinki/Finland — The acquired division's sales in the last fiscal year ending March 31, 2018, amounted to approx. $ 23.4 million and it employs about 275 people. The company has two manufacturing facilities in the Mumbai area and sales offices in Mumbai, Vadodara, Kolkata and Pune.
The acquisition will complement Metso's actuation and valve automation offering and enable a full range of actuators for all major valve markets and a broader offering of limit switches for mid-market applications, the company announced. It also introduces new products to the company's process-valve portfolio for the oil and gas, pulp and paper, mining, water treatment and other process industries.
Closing of the acquisition is estimated to occur in July 2018 subject to satisfaction of customary closing conditions. The parties have agreed to not disclose the value of the transaction.