Merilampi represented Metso in the sale of its Tampere foundry to TEVO Oy. The new owner will continue the foundry operations under the name TEVO-Lokomo, and all 128 people employed at the foundry will maintain their current employment contracts. Completion of the divestment is expected to occur 1 March 2015.
After the sale of the Tampere foundry, Metso will have five foundries, which are located in India, South Africa, the Czech Republic, China and Brazil. TEVO is a family-owned Finnish company and has been in business for over 40 years. TEVO has annual net sales of approximately EUR 50 million, and after the completion of the acquisition, TEVO will employ 260 people.