To expand its loading and hauling offering, Metso has signed an agreement to acquire Häggblom Oy, a privately owned Finnish engineering and manufacturing company.
Häggblom’s key offering includes mining truck bodies and buckets as well as wear parts, truck body and bucket refurbishments and related field services.
Metso and Häggblom have partnered for several years in the manufacturing of truck bodies.
“Loading and hauling is a growing business, and our goal is to further develop our capability to serve our customers,” said Heikki Metsälä, President of Metso’s consumables business area.
“Häggblom’s product range, manufacturing know-how and engineering capabilities, as well as service expertise, are a good addition to Metso’s wear parts portfolio. Häggblom’s employees will bring valuable skills to Metso, and we look forward to building on the great partnership we have developed over the years.”
Through the acquisition, Metso aim is to leverage Häggblom’s engineering and manufacturing expertise in collaboration with existing partners on a regional and global basis.
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The acquisition effectively broadens Metso’s offering in bodies and buckets by providing complete end-to-end loading and hauling solutions and strengthening the company’s position in the aftermarket.
“This is the beginning of an exciting new chapter for our company. We have successfully cooperated with Metso for many years, and we are now excited to become part of an international company,” said Jukka Karhula, CEO of Häggblom.
“We are confident that our expertise and products will align well with Metso’s loading and hauling offering. This acquisition will benefit our customers and employees who are our most important assets.”
The acquisition is estimated to be finalized in August 2023. The parties have agreed not to disclose the transaction value, which has no material impact on Metso’s financials. Häggblom Oy’s ownership is divided between Finnish private equity investors and the management.
The company has about 100 employees, with manufacturing, service, and logistics facilities in Finland and Sweden. Häggblom’s sales in 2022 were approximately EUR$25 million.