Metso Outotec expands its digital service capabilities by acquiring Global Physical Asset Management in North America
Metso Outotec Corporation’s press release on September 1, 2022, at 9.25 p.m.
Metso Outotec has closed the acquisition of Global Physical Asset Management, a technology provider based in North America. The acquisition will further strengthen Metso Outotec’s capabilities in digital field service inspections for grinding.
The innovative technologies and the digital inspection method of Global Physical Asset Management are patented and fully complementary to Metso Outotec’s current service offering for grinding. This will bring more value to customers and support them in achieving reliable plant performance. The acquired technology enables 60% faster gear inspections with outstanding accuracy when compared to the use of conventional methods.
“I am very pleased about this important step toward our strategic target to become the preferred services provider in our industry. The unique technology and digital inspection method fit excellently with our services strategy and grinding offering and will also bring potential to further develop our inspection capabilities for our crushing solutions. I warmly welcome our new colleagues to the Metso Outotec team,” says Sami Takaluoma, President, Services business area at Metso Outotec.
Metso Outotec has experience from designing, manufacturing and supplying over 8,000 grinding mills globally, including the manufacturing and supply of the largest SAG/AG mills in the world. With the acquisition of Global Physical Asset Management, Metso Outotec can leverage the strength of its extensive installed base and field service network and increase its capabilities to serve the third-party installed base.
Co-founders, Tom and Jason Shumka, say: “We are excited that we are now a part of a truly international company. Tom has expanded Global PAM’s markets by building strong relationships with customers and working with them to build efficient and reliable strategies that apply the latest innovative technologies. Jason has developed unique technologies for years, helping our customers achieve significant benefits. As we become a part of Metso Outotec, our innovative solutions, which we are very proud of, will become available for customers globally”.
The value of the acquisition is not disclosed. It will have no material impact on Metso Outotec’s financials.
About Global Physical Asset Management
Global Physical Asset Management is a privately owned technology company founded in 2007.
It has 20 employees in the United States and Canada, and it serves leading mining customers. Its sales in 2021 were approximately C$6 million (approx. €5 million). The company has offices in Kelowna, British Columbia, Canada; and in Wisconsin, USA. More information on their website.
Further information, please contact:
Martin Karlsson, Senior Vice President, Professional Services, Metso Outotec, tel. +358 50 412 7473, email: martin.karlsson(at)mogroup.com
Terry Galvin, Vice President, Expert Services, Metso Outotec, tel. +1 514 229 3404, email: terry.galvin(at)mogroup.com
Helena Marjaranta, Vice President, Communications and Brand, Metso Outotec, tel. +358 20 484 3212, email: helena.marjaranta(at)mogroup.com
Metso Outotec is a frontrunner in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries globally. By improving our customers’ energy and water efficiency, increasing their productivity, and reducing environmental risks with our product and process expertise, we are the partner for positive change. Metso Outotec is committed to limiting global warming to 1.5°C with Science Based Targets.
Headquartered in Helsinki, Finland, Metso Outotec employs over 15,000 people in more than 50 countries and its sales for 2021 were about EUR 4.2 billion. The company is listed on the Nasdaq Helsinki. mogroup.com, twitter.com/metsooutotec
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