Neles has signed an asset purchase agreement to acquire the valve and pump businesses of the Finland-based technology company Flowrox. The acquisition will complement Neles' offering and exposure to the mining and metals industry.
The mining and metals market is expected to have strong short- and mid-term growth for the next decade, driven by the increasing demand for metals, ore depletion and underlying investments into more efficient processing. With good long-term fundamentals, service intensity and a different cyclical nature balancing out cycles from currently served industries, mining and metals is an attractive industry for Neles. The acquisition will enable Neles to better leverage growth opportunities in minerals processing applications.