Neles Acquires StoneL Valve Monitoring Operations

Metso Corp.'s (Helsinki, Finland) automation and control technology business area, Neles Automation, has agreed to acquire StoneL Corp., a supplier of valve monitoring and communications solutions in Minnesota (USA). The price of the acquisition, scheduled to be completed at the beginning of August, was not disclosed.

The acquired company will merge with Neles Automation's Jamesbury division, a manufacturer and supplier of automated and manual industrial valves and actuators. The Jamesbury division operates in North America.

StoneL Corp. produces a broad array of valve monitoring and communication product platforms for applications ranging from general purpose to restrictive hazardous environments. Metso pointed out that the StoneL products are complementary to those of Jamesbury, and will allow Jamesbury and StoneL to leverage existing customer relationships and product offerings. StoneL employs 30 people.

Neles Automation develops and supplies process automation and flow control solutions for the pulp and paper, refining, petrochemical, chemical, and energy industries. In 1999, the business area had net sales of EUR 599 million and employed 4,350 people.

Metso is a global supplier of process industry machinery and systems. In addition to fiber and paper technology, the company's business areas are automation and control technology and machinery. Metso's 1999 net sales totaled EUR 3.4 billion, and it had some 23,000 employees.

Edited by Ken Patrick