Metso has acquired the Indian engineering company EPT Engineering Services Private Limited for an undisclosed amount. The move is expected to strengthen the company's position in the growing Asian market. EPT Engineering Services is a privately owned company, providing design, detail engineering, and value-added services such as conceptual design and 3D modeling to the power, pulp and paper, oil, gas and petrochemical industries.
The company has 90 employees. "The acquisition of EPT follows our strategy to improve our cost-competitiveness and to serve our customers better, both locally and globally. This acquisition gives also Metso a 100 percent ownership of the joint venture, Metso Power India Private Limited, where EPT has been a minority owner,'' says Olli Karavirta, vice president of operations for Metso's Power business line.
Metso's pulp, paper and power business units specialize in processes, machinery, equipment, services, paper machine clothing and filter fabrics. As of January 2014, Metso's Pulp, Paper and Power business will serve its customers as an independent, listed company, Valmet Corporation, pending approval from Metso EGM.