Finland’s Metso is buying British mobile heavy equipment automation and control specialist Tedd Engineering for an undisclosed price.
Metso said Tedd, founded in 1991, employed about 70 people and turned over circa-US$18 million in the year to June, 2023. The Chesterfield-based company was focused mainly on the aggregates market.
“The acquisition clearly strengthens our capabilities to utilise digitalisation and automation in our mobile equipment business and especially in the aftermarket,” Metso aggregates business president Markku Simula said.
“Beyond Metso’s own mobile products, Tedd Engineering will offer new opportunities for the automation aftermarket business, including control system upgrades, digital solutions, and remote monitoring.
“Tedd Engineering has been a trusted automation supplier for Metso’s McCloskey brand already for several years and coming together will give us new opportunities to speed up our electrification and digitalisation programs.”
The deal is expected to close in the current quarter.
