Metso Corp.'s automation and control technology division, Neles Automation, announced June 14 that it's acquiring Minnesota-based StoneL Corp., which supplies valve monitoring and communications solutions used from general purpose to restrictive environments. Terms of the deal weren't disclosed, though it's scheduled to close in August 2000.
Metso Corp.’s automation and control technology division, Neles Automation, announced June 14 that it’s acquiring Minnesota-based StoneL Corp., which supplies valve monitoring and communications solutions used from general purpose to restrictive environments. Terms of the deal weren’t disclosed, though it’s scheduled to close in August 2000. StoneL and its 30 employees will merge with Neles’ Jamesbury division, which manufactures automated and manual valves and actuators. In other news, Metso also offered June 21 to acquire Svedala Industri AB for SEK 13.7 million (C1.66 million) in cash. Metso plans to combine Svedala, a global supplier of rock and mineral processing products and services, with its Nordberg subsidiary, which is Metso’s existing rock and mineral processing group. This acquisition is expected to close by September 2000.
