Metso acquires full ownership of Swiss Tower Mills Minerals
Metso Oyj has agreed to acquire the remaining shares of its long-term partner Swiss Tower Mills Minerals AG (STM), increasing its ownership to 100%. The deal strengthens Metso's focus on energy-efficient comminution technology.
Metso Oyj announced an agreement to acquire all outstanding shares of its long-term partner Swiss Tower Mills Minerals AG (STM). This transaction will increase Metso's ownership in the Swiss company to 100%, up from its previous 15% minority stake. The financial terms of the deal have not been disclosed.
Metso exercised its right of first refusal after other shareholders decided to divest their holdings. Swiss Tower Mills Minerals specializes in vertical grinding mill solutions, notably the HIGmillTM technology, which Metso has exclusively sold and serviced.
The HIGmillTM technology is crucial for energy-efficient comminution processes and is expected to complement Metso's HRCTM high-pressure grinding rolls. The use of vertical grinding mill technology has seen significant growth during the companies' cooperation, a trend expected to continue.
The acquisition is subject to anti-trust approvals and is anticipated to close in early 2025. Metso previously held a 15% ownership stake in STM, classified as a non-current financial asset.