Vesuvius to grow presence in steel and foundry industries

Engineering group Vesuvius has agreed to purchase two businesses as part of its plan to build its presence in the steel and foundry industries.

Engineering group Vesuvius has agreed to purchase two businesses as part of its plan to build its presence in the steel and foundry industries.

The molten metal engineering specialist paid a total of £30m for Ecil Met Tec and Process Metrix, which are both profitable and expected to enhance the group's earnings in 2015, although not the current year.

Both acquisitions are expected to complete during 2014.

Chief executive François Wanecq said: "In addition to improving our base business, we are now turning our attention to building our technical services presence, and it is particularly pleasing to have added two high technology businesses with strong management teams and well-established track records of delivering superior service to their customers.

"I am confident that Vesuvius' global presence and expertise will allow us to expand the accessible market for Ecil Met Tec and Process Metrix products and services.

NR