Metso says it has signed an agreement to acquire Ab A. Häggblom Oy, a privately-owned Finnish engineering and manufacturing company with a key offering that includes mining truck bodies and buckets.
Häggblom’s service portfolio includes wear parts, truck body and bucket refurbishments, as well as related field services. It has partnered with Metso for several years in the manufacturing of truck bodies.
The acquisition will broaden Metso’s offering in bodies and buckets by providing complete end-to-end loading and hauling solutions, while strengthening the company’s position in the aftermarket, according to Metso. The aim is to leverage Häggblom’s strong engineering and manufacturing expertise in collaboration with existing partners on a regional and global basis.
Heikki Metsälä, President, Consumables business area, Metso, said: “Loading and hauling is a growing business, and our goal is to further develop our capability to serve our customers. Häggblom’s product range, manufacturing know-how and engineering capabilities, as well as service expertise, are a good addition to Metso’s wear parts portfolio. Häggblom’s employees will bring valuable skills to Metso, and we look forward to building on the great partnership we have developed over the years,”
Jukka Karhula, CEO, Häggblom, said: “This is the beginning of an exciting new chapter for our company. We have successfully cooperated with Metso for many years, and we are now excited to become part of an international company. We are confident that our expertise and products will align well with Metso’s loading and hauling offering. This acquisition will benefit our customers and employees who are our most important assets.”
The acquisition is estimated to be finalised in August 2023. The parties have agreed not to disclose the transaction value, which has no material impact on Metso’s financials, it says.