Metso is investing in the development of its foundry capacity in Vadodara, India, to meet the growing global demand for cast wears for mining and aggregate industries.
The initial investment includes the acquisition of the property and foundry assets of a privately owned foundry project, Mega Cast. Metso expects to invest a total of approx. €25M to purchase the assets and to develop the foundry by 2020.
“With this investment Metso is responding to the global market demand by increasing production capabilities in cast wear parts for the aggregates and mining industries,” the company stated.
Sami Takaluoma, president of the Minerals Consumables business area at Metso, said: “This investment fully aligns with our profitable growth strategy. It further expands our global manufacturing footprint in foundry products, improving our operational capabilities and allowing us to meet our customers’ growing needs both in terms of availability as well as reduced lead times.
“We are continuously investigating new ways to develop our supply capabilities through our own manufacturing facilities as well as through our supplier network.”
The foundry development will begin as soon as the acquisition of the foundry assets has been completed. The first product deliveries from the Vadodara foundry are expected by the end of 2019, and the production is due to ramp-up quickly in 2020. Metso said that the new foundry will be built in accordance with its sustainability and quality principles.