Metso has signed an agreement to acquire South Korean valve technology company Valstone Control Inc. as part of its overall business strategy to grow its valve business. The amount of the transaction was not disclosed.
Valstone is a privately owned globe valve and service company. Its customers include South Korean petrochemical and power generation companies and engineering, procurement and construction companies.
The Valstone acquisition is preceded by a series of investments in Metso”s global valve offering. Last year Metso opened a new valve technology center in Finland, and the previous year it opened a facility in Shanghai, China. Currently, Metso is expanding its valve production premises in the U.S. as well as building a new supply and service center in India. In addition, Metso has industrial valve facilities in Brazil and Germany.
Metso Automation President Perttu Louhiluoto said in a prepared statement that Asian growth markets have a key role in the company’s overall long-term strategy to improve its valve technology offering and services. The Valstone acquisition is intended to strengthen Metso”s service capabilities in the growing South Korean market.
Metso currently has 31 valve service centers around the world.
