Engineering and technology firm Metso Corp is to divest its German panelboard press operations to Siempelkamp as part of an ongoing restructuring programme.
Fellow German firm Siempelkamp will take on the assets, industrial property rights and know-how of Metso Panelboard, with 65 employees also transferring to the new owners.
Continuous press and energy plants for the panelboard industry will now be manufactured by Siempelkamp, while Metso Panelboard will continue to produce handling, forming and panelling systems.
Metso added that the divestment will allow it to enhance Metso Panelboards product portfolio, improve its order-to-delivery capabilities and increase efficiency.
“Following the divestment, Metso Panelboard will remain a major supplier to the global wood-based panels industry, with focus on supplying, through its own sales and service organisation, process units and solutions,” said Metso.
Metso and Siempelkamp have also announced a joint venture that will see Metso’s forming and panel handling technologies combined with the continuous press technolgy produced by Siempelkamp, further helping Metso to assert itself into other manufacturing markets, according to the company.
