Metso acquired Indian valve automation business

According to a company brief, Metso has signed an agreement to acquire the valve automation division of the India-based valve technology company Rotex Manufacturers and Engineers. The company has a market-leading position in India in the actuator business and an advanced offering of switches, process valves, and valve automation products and solutions.
The acquired division’s sales in the last fiscal year were approximately €19 million and it employs approximately 275 people. It has two manufacturing facilities in the Mumbai area and sales offices in Mumbai, Vadodara, Kolkata and Pune.
Closing of the acquisition is estimated to occur in July 2018 subject to satisfaction of customary closing conditions. The parties have agreed to not disclose the value of the transaction.