Metso to discontinue its foundry operation in Isithebe, South Africa
METSO CORP ADS (MXCYY)
NASDAQ:AMEX Investor Relations:
metso.com/company/investors
Company Research
Source: GlobeNewswire
Metso to discontinue its foundry operation in Isithebe, South Africa Metso Corporation’s press release on August 21, 2019 at 1:00 p.m. EEST Metso continues to develop the global supply footprint in its Minerals Consumables business area. As part of the initiative, the consultations evaluating closure or other alternatives concerning the Isithebe foundry in South Africa have resulted in a decision to discontinue the foundry operation by the end of September 2019. The decision affects approximately 200 employees currently employed at the foundry and its support functions. This undertaking will have a small negative impact on Metso’s third quarter result. “Our strategy is to utilize synergies of the most efficient manufacturing and sourcing opportunities globally to ensure the best value, availability and quality for our customers. After careful evaluation of all opportunities for Isithebe, discontinuing the operation was identified as the only feasible solution,” says Sami Takaluom
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