Finland’s Metso says it is selling its Haggblom mining parts business two years after acquiring it. Another Finnish company, Miilux Oy, is buying Haggblom.
“By divesting the loading and hauling business to a well-matched new owner, Metso sharpens its strategic focus while ensuring the business and its employees thrive under an owner who is dedicated to its development and ongoing customer service,” Metso said.
Haggblom, which was generating about €25 million a year sales when Metso bought it, still has about 100 employees, according to the vendor.
Metso said it would continue to support an existing customer base with truck-bed rubber lining and ground engaging tools in specific markets.
“The company’s established presence in the market provides us with a reliable foundation for further expansion,” Miilux CEO Pekka Miilukangas said.
As when it acquired Miilux, Metso didn’t provide a transaction value.
