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Scotland’s Weir Group 'offers €4bn for Finland’s Metso'

01 April, 2014

The Scottish engineering company, the Weir Group, is reported to have made an offer worth more than €4bn for Metso, the Finnish automation, and mining & construction, business.

The unsolicited offer has been confirmed by Metso. In a statement, it says it occasionally receives proposals of this type and if its board considers them serious, it evaluates the proposals. “Contrary to market rumours,” it adds, “Metso is currently not, and has not been, engaged in discussions with Weir, although it is in the process of considering Weir's proposal”.

Metso was created in 1999 through the merger of the paper machinery supplier Valmet and the rock-crushing and flow control business, Rauma. In 2013, the business was split into the Metso Corporation and the Valmet Corporation. Metso focuses on developing intelligent systems for the mining, construction, and oil & gas industries. It also provides process automation and flow control systems and services for the pulp, paper and power generation industries, among others. It employs around 16,000 people in 50 countries, and in 2013 achieved sales worth €3.86bn.

One of Metso's specialities is supplying crushing equipment to the minerals industry

The Weir Group supplies equipment to the mining and oil & gas industries. It also manufactures valves, pumps and turbines. In 2013, it reported revenues worth £2.43bn.

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