Metso Corporation expects to wrap up the acquisition of 70-year-old Finnish mining engineering and manufacturing firm, Ab A Haggblom Oy, in August this year. It says the deal won’t materially impact its financials.
Metso said Haggblom supplied major Nordic region mining companies with mining truck bodies, loader buckets and wear parts. It also does truck body and bucket refurbishments, and provides related field services. The Kokkola-based company is said to turn over about €25 million a year and have circa-100 employees.
Haggblom had partnered with Metso for several years on truck body manufacturing, the latter said.
“Loading and hauling is a growing business, and our goal is to further develop our capability to serve our customers,” said Metso consumables business president, Heikki Metsala.
“Haggblom’s product range, manufacturing know-how and engineering capabilities, as well as service expertise are a good addition to Metso’s wear parts portfolio.”
Haggblom says it started life in a garage in the town of Kokkola in 1954. It also has a manufacturing, service and logistics base in Lulea, Sweden.
“This is the beginning of an exciting new chapter for our company,” CEO Jukka Karhula said.
Finnish private equity investors and Haggblom management are selling the company.
