Metso agrees to acquire the service business of Chile's HighService Corp
Metso Corporation's press release on 2.1.2019 at 2:00 p.m. EET
Metso has agreed to acquire HighService Service, the service business of the Chilean mining technology and maintenance provider HighService Corp.
HighService Service is a high-quality service provider for the mining industry, with operations in Chile, Argentina and Brazil. Its sales in the fiscal year 2017 were 60 million euros and it has 1,300 employees.
The acquisition is pending regulatory approval from the Chilean authorities and is expected to close during the first half of 2019. The parties have agreed not to disclose the value of the transaction.
"The acquisition supports Metso's growth strategy and will expand our service offering in the important Chilean and Pacific Rim mining markets. We are very happy to welcome HighService Service to Metso and look forward to offering full support to our existing and new customers in the region", says Mikko Keto, President of Metso's Minerals Services business area.
"We have worked hard as a company to excel in services, development, innovation and technology in an industry that presents us new challenges every year. This milestone will allow us to deepen our position in the area of engineering and construction, and continue to develop cutting-edge technology for the industry", says Hugo Salamanca, President of HighService Corp.
About HighService Service
HighService Service is part of HighService Corp, with extensive experience and recognized track record in integral, electrical and instrumentation maintenance since 1998. Building on the development of human capital and incorporation of new technologies, HighService Service is committed to providing safety, quality of services and operational excellence.
HighService Service is divided into two areas, Plant Maintenance Service Management and Drive and Automatic Control Management, specializing in technical assistance and remote monitoring in concentrator plants.
Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 2.7 billion in 2017. Metso employs over 12,000 people in more than 50 countries.
www.metso.com (https://www.metso.com/), www.twitter.com/metsogroup (http://www.twitter.com/metsogroup)
For further information, please contact:
Mikko Keto, President, Minerals Services business area, Metso Corporation +358 20 484 100, Email: mikko.keto@metso.com (mailto:mikko.keto@metso.com)
Helena Marjaranta, Vice President, Communications and Stakeholder Relations, Metso Corporation, Tel. +358 20 484 3212, Email: helena.marjaranta@metso.com (mailto:helena.marjaranta@metso.com)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Metso Corporation via Globenewswire
