Metso finalises Tampere foundry sale to TEVO

Metso finalised the sale of the Tampere foundry to the Finnish company TEVO. The business was transferred to the new owner on 13 April 2015. The sales price has not been disclosed. In conjunction with the sale, all foundry personnel have been transferred to TEVO with their existing employment contracts.

Photo courtesy of Metso, Inc.

After the sale, Metso has five of its own foundries and a comprehensive network of casting suppliers serving the mining and aggregates industries. TEVO is a family-owned business originally from Raahe in western Finland; it has been in business for over 40 years. TEVO is an internationally operating heavy-duty machine-engineering workshop, whose business has expanded from the steel and paper industries to the offshore and shipbuilding industries. TEVO specialises in complex steel structures and specialty welding. Its own product offering consists of, e.g., bronze propellers for sea-going vessels and specialty rolls for paper industry. With the acquisition, TEVO employs approximately 260 professionals at its Raahe, Turenki and Tampere sites in Finland.

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