Metso says it is increasing its foundry capacity in India to meet the growing demand for cast wears for the mining and aggregates industries.
The initial investment includes the acquisition of the property and foundry assets of a privately-owned project, Mega Cast. Metso expects to invest around €25m to purchase the assets and to develop the foundry by 2020.
Sami Takaluoma, Metso's president of minerals consumables business, says: "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.”
The foundry development will start as soon as the acquisition of the foundry assets is complete. The initial product deliveries from the Vadodara foundry are expected by the end of 2019, with production set to accelerate quickly in 2020.
