Finnish mining and resources company Metso has completed the sale of its grinding media business to Moly-Cop, a portfolio company of American Industrial Partners.
The transaction includes the sale of Metso Spain Holding, S.L.U, including operations in Bilbao, Seville and Spain. Around 80 employees have been transferred from Metso to Moly-Cop.
The turnover of the divested business in 2018 was approximately 60 million euros (AUD 95 million).
Metso Minerals and Consumables President Sami Takaluoma said Metso’s growth strategy in the consumables business is to focus on developing a global offering.
“We are confident that our customers and our grinding media team will benefit from this transaction and from the combination of our strong regional know-how with Moly-Cop’s global capabilities,” Takaluoma said.
Moly-Cop is a major manufacturer of grinding media used primarily by copper, gold and iron ore producers to break down ore in the primary phase of mineral concentration.
Moly-Cop CEO Jim Anderson said the acquisition is a great match for Moly-Cop and its strategy moving forward.
“Metso’s operations and team align perfectly with our global manufacturing network, and this transaction will further enhance our industry-leading value proposition to our customers,” Anderson said.